UP govt announces 5000 acres for land bank

New Delhi, Oct 5 (KNN) In an attempt to boost the industrial sector in the state, the Uttar Pradesh government has announced 5000 acres for land bank across the state.

UP industries Minister Satish Mahana in a press interview informed about this new development. He said that industrial development is govt’s utmost priority to attract foreign capital and create more jobs.

The U.P govt is also planning to convert   2500 acres of vacant land bordering the Agra – Lucknow expressway into industrial hub.

Lack of land bank has been one of the bottlenecks hampering the industrial growth of Uttar Pradesh.

Earlier different MSME associations including Industries Association (IIA) appealed the state government to allow conversion of lease hold industrial land to free hold with the stipulation prohibiting land use change in order to the check possible misuse.

Mahana further informed that the government is in the process of formulating a framework for reviving sick units in the state.

Also the state industries department will organize summits both in India and abroad in order  to attract industries and investments, the minister added. (KNN/ AG)