YEIDA to collaborate with Japanese and Korean firms to develop industrial city in Noida

Noida, Dec 21 (KNN) The Yamuna Expressway Industrial Development Authority (YEIDA) is planning to develop an industrial city in Noida in collaboration with Japanese and Korean companies, according to a report in Times Now.

As per the report, YEIDA has planned to develop an industrial city in sector 7, whereas in sector 10 it plans to develop a semiconductor and electronics manufacturing hub. For both these projects, about 2200 acres of land - 1000 acres in Sector 10 and around 1200 access in Sector 7 will be acquired.

The expressway authority is expecting to provide a boost to the economy of the entire region with the development of these industrial cities and manufacturing hubs. It is hoping to offer jobs to more than 65000 people.

The administrative procedures to acquire the land have already been started and a proposal to initiate the process in Sector 10 submitted to the Uttar Pradesh government. The government in October this year issued a notification of the social impact assessment (SIA) for the project.

Earlier this month, the authorities of Noida, Greater Noida and the YEDIA made official visits to Japan, South Korea and Singapore and conducted roadshows there to bring investments. According to the official estimate, an investment of Rs 1 lakh crore is expected to be made from both domestic and foreign players.

Arun Vir Singh, CEO of YEIDA said the road shows in Japan and Korea were successful and the entrepreneurs of both countries have agreed to develop these cities.

The Uttar Pradesh government is aiming to attract investments worth Rs 15 lakh crore in 2023-24. The Noida, Greater Noida and YEDIA have been tasked to find investments worth Rs 6,000 crore each.  (KNN Bureau)