Investment proposals of Rs 40,000 cr to be implemented in UP’s first groundbreaking ceremony
Lucknow, May 20 (KNN) Uttar Pradesh State Industrial Development Authority has announced that investment proposals worth Rs 40,000 crore are set to be implemented in the first groundbreaking ceremony.
As per the official statement, the land has been identified by the investors and soon it will also be made available to them.
“Notably, all the departments have been given specific targets for the groundbreaking ceremony. UPSIDA has been given the highest investment target of Rs 1.60 lakh crore, of which 224 MoUs worth more than Rs 82,000 crore have been shortlisted,” it said.
UPSIDA CEO Mayur Maheshwari said, “Proposals for a total investment of Rs 3.18 lakh crore were received from 600 investors in UP Global Investors Summit-2023. In such a situation, to get these investment proposals implemented, they were divided into five categories–MSME (up to Rs 50 crore), large (Rs 50-200 crore), mega (Rs 200-500 crore), super mega (500- 5,000 crore) and ultra mega (above Rs. 5,000 crore).”
An official press note added that different teams have been formed in three phases to review these MoUs.
“Work is being done in every sector to improve the infrastructure in time. The land is also being mapped based on the needs of the investors. 199 investors have been getting land along with other facilities in 44 districts,” it informed.
It informed that the maximum investment of Rs 7,020 crore is being made in Chandauli by four investors in the entire state while Amethi has 30 units with an investment of Rs 4,761 crore.
Sectorwise, 41 investors will invest in the logistics and warehousing sector while 32 investors will set up private industrial parks. 28 other investors will work in the food processing sector.
Most of these investors are investing in Purvanchal, where 65 units with an investment of Rs 20,189 crore are ready for implementation, it said.
“Another major chunk of these investments are being made in Paschimanchal, where 70 units will be set up with an investment of Rs 12,051 crore. Madhyanchal has attracted 60 units with an investment of Rs 5200 crore while Bundelkhand has four ready-to-set-up industries with an investment of Rs 2872 crore,” the statement further added.
“Notably, these units will generate 1,33,477 employment opportunities in the state. Besides, units established in Paschimanchal will generate maximum employment opportunities. The number of jobs to be generated here will be 72,740, while 36,135 employment opportunities will be generated from the units investing in the Purvanchal region. 22,702 jobs will be created for people living in Madhyanchal while 1,900 jobs are likely to be created in units of Bundelkhand region,” the statement informed. (KNN Bureau)