Mr. K.T. Rama Rao, the Information Technology and the Urban Development Minister of Telangana attracted a huge investment of Rs. 6O0 crores to Telangana. During his Davos trip for the World Economic Forum (WEF), Mr. K.T. Rama Rao, the Telangana Rashtra Samithi (TRS) Working President met with the representatives of the LuLu Group and Chemo Pharma. Mr. K.T. Rama Rao met with Mr. M.A. Yusuff Ali, the Managing Director and Chairman of the Lulu Groups. After the meeting, Mr. M.A. Yusuff Ali said, “We are also working on setting up one more food processing unit in Telangana. An official announcement will be made shortly.” The Lulu Groups also said they would make a mega shopping mall in Hyderabad with international standard facilities.
While the Lulu Group has announced an investment of Rs. 500 crore in the food processing sector, Spain’s Chemo Pharma declared to invest Rs. 100 crore for expanding its unit in Hyderabad in the next 2 years. Besides the two companies, a Zurich based company named Swiss Re has also said it would soon be establishing its unit in Hyderabad.
Mr. K.T. Rama Rao also said, “I am delighted that Chemo, a leading pharmaceutical company, is continuing to grow from Hyderabad. This is indeed a testament to the life sciences ecosystem in the city and Genome Valley.”
Mr. K.T. Rama Rao is in Davos to attend the 2022 World Economic Forum (WEF) conference.
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