UAE-based BRS Ventures signs MoU for Mega Investments in Telangana

Hyderabad, Jan 29(INN):Industries & Commerce Department Principal Secretary Jayesh Ranjan and the BRS Ventures (A group company of B R Shetty Group), UAE today signed MoUs in the presence of IT Minister K. Tarakarama Rao for three Mega Investments.
Dr. B. R. Shetty's Group has diversified into various sectors including healthcare, hospitality, pharmaceuticals, food, financial services, retail, trading, advertising and information technology in the United Arab Emirates.
BRS will invest in the projects with a cumulative investment of about Rs. 1,000 Crores over 3-5 years. It will set up Pharmaceutical manufacturing and R&D unit on approximately 20 acres land; Set up Medical Device manufacturing unit (Medical Equipment including Dialysis Machines, Medical Aids, Hospital Furniture, among others) on approximately 20 acres land in the Telangana Medical Devices Park, Sultanpur, Hyderabad and it will also set up Greenfield Multi Specialty Hospitals of aggregate capacity of 500 beds on aggregate land size of 20 acres and Higher Education institutions - Medical, Engineering and Management on approximately 50 acres.
Lulu signs 3 MoUs with Telangana Government
To invest US$ 400 million (AED 1.45 billion or Rs. 2500 crores)
Lulu Group has signed a memorandum of understanding with Indian state of Telangana to develop retail and food processing industry in the state. Under this MOU, Lulu will invest an amount of US$ 400 million (Rs. 2500 crores or Dhs. 1.45 billion) to construct 1.8 million sq. feet area of mega shopping mall, setting up of food processing plant and a logistics & export processing unit for fruit & vegetable.
The agreement was signed during the UAE visit of KT Rama Rao, Telangana minister for Industries, Commerce, IT & Urban Development along with a high-level delegation to LULU group HO in Abu Dhabi.
Yusuffali MA, Chairman, Lulu Group comment "As part of our expansion plans for India, we are excited to sign these MOUs today. Telangana being the newest state offers great potential for expansions and the kind of support and cooperation we have been receiving from the Govt. has been very encouraging. We will begin the work within 3 months as the Telangana Govt. has already initiated the process to hand over the land to us."
KT Rama Rao commented, "We have always wanted world-class facilities for our state, especially in the retail and food sector. Being a leader in these sectors, Lulu Group is our natural choice and we have extended our fullest support and look forward to working with them in many more projects in the future". (INN)
Source: Agencies



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