New Delhi, June 19 (KNN) For ambitious defence corridor project in Bundelkhand with an estimated investment of Rs 20,000 crore, Uttar Pradesh Government has initiated a land acquisition process.

The project was announced by Prime Minister Narendra Modi during the two-day UP Investors Summit.

Chairing the meeting to review the progress in defence corridor project, the UP Industries Minister Satish Mahana said that the supervising consultant for land acquisition has been appointed and the process of allotment of land to the investors and entrepreneurs will be taken up after the land acquisition process.

Further, the Minister added that the industries department will soon organize an exhibition in Kanpur that will provide a platform to buyers and sellers and as many as 240 products from the sector will be showcased.

Also, for the defence corridor, clusters will be developed, he added.

Calling it one of the most ambitious project, he said this project with an investment to the tune of Rs 20,000 crore is all set to generate several lakh jobs in the backward region of Bundelkhand.

Further, he asked the officials of the departments to finish the required work for the project by the end of October.

For this, defence manufacturing policy will also be implemented by the state government and all the industrial organizations will be consulted for the same.

This project will create humongous opportunity for the MSME sector, he added.

Talking about the project, the industrial development commissioner Anup Pandey said that the several facilities will be provided to the investors by the government for developing industrial park in the corridor.

He said the work of acquiring 3,000 hectares of land for the park is in process and a meeting of the stakeholders will be convened in next 15 days to accelerate the process.

Several USA companies have shown interest for investing in the park and a portal will also be developed for entrepreneurs, said pandey.

The Chief executive officer of UP expressway industrial development authority (UPEIDA) Avneesh Awasthi said that the UPEIDA has been selected as the nodal agency for the land acquisition work.

He said the rules are being framed for the acquisition of the lane for the defence corridor project.