Defence Corridor: UPEIDA inks 2 MoUs for investment in Jhansi, Aligarh
Awanish Kumar Awasthi, the chief executive officer of UP Expressway Industrial Development Authority (UPEIDA), on Monday signed two memoranda of understanding (MoUs) with M/s Delta Combat Systems Limited for investment at Jhansi and Aligarh node of UP defence industrial corridor.
“The company has proposed to invest ₹250 crore on setting a defence industry over 100-acre land in Aligarh,” said a spokesperson for UPEIDA.
The company’s chairman Kumar Santosh said the company will manufacture the latest model of art assault rifles in the unit at Aligarh node of the defence corridor. “The company has also planned to invest ₹250 crore by installing MROs of ammunition, unloaded rockets, MANDAD, ATGM combat vehicles in Jhansi node. The company intends to employ at least 250 people,” he said.
To give impetus to development, investment and increase the manufacturing capacity, the state government has decided to develop the UP Defence Industrial Corridor.
The defence industries are proposed to be set up on 1,086-hectare land in Jhansi node of the defence corridor. The state government has acquired 1,035-hectare land whereas 74-hectare land has been purchased in Aligarh node.
The defence corridor would come up in Bundelkhand region and is expected to generate more than one lakh jobs. The corridor would have six nodes- Aligarh, Agra, Jhansi, Chitrakoot, Kanpur and Lucknow.
On February 21, 2018, PM Narendra Modi had announced ₹20,000 crore defence industrial corridor in Bundelkhand region which is considered as one of the most backward regions in the state. The Yogi government has offered financial benefits for such units willing to give year-long skill development training along with job to the youth.
As the defence corridor is aimed at generating more jobs for drought–hit Bundelkhand region, the Yogi government has offered capital subsidy for such industrialists that are willing to invest up to ₹10 crore.