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GIS 2023: UPSIDA receives investment proposals worth ₹1 lakh crore
HT Correspondent Lucknow: UP State Industrial Development Authority (UPSIDA) has received investment proposals worth over ₹one lakh crore from investors willing to set up their units across the state
HT Correspondent
Lucknow: UP State Industrial Development Authority (UPSIDA) has received investment proposals worth over ₹one lakh crore from investors willing to set up their units across the state.
Out of the many proposals, UPSIDA has signed letters of intent for projects worth ₹83,000 crore. MoUs for the projects will be finalised at Global Investors’ Summit (GIS) proposed to be hosted in the state capital from February 10 to 12.
According to UPSIDA chief executive officer (CEO) Mayur Maheshwari, nine teams were constituted to bring in investment. In the first phase, meetings were organised with investors and entrepreneurs in 22 districts of the state. During these meetings, MoUs were signed, Maheshwari said.
Food processing, textile, automobile, industrial parks, warehousing, paper industry, medical sector, biofuel, toy products, data centre, IT and electronics are among the favourite areas of investors, Maheshwari added.
Before the Global Investors’ Summit, a team of senior UPSIDA officials will be constituted and investment conferences will be organised in the remaining districts of the state.
One of the MoUs proposes an investment of ₹10,000 crore for setting up a private park in Ghaziabad. Mobility Infrastructure Group is investing ₹8000 crore in logistics and warehouse park in Gautam Budh Nagar where around 1,000 people are expected to be employed.
Mega Leather Cluster Development (UP) Limited will provide employment to about two lakh people in Kanpur with an investment of ₹6000 crore, said UPSIDA.
In Pratapgarh, around 50,000 people will get employment with an investment of ₹9,000 crore.
In Sonbhadra, an investment of ₹3,000 crore by Gold Industrial Pvt Ltd aims to ensure jobs for 1,000 locals.
In Lucknow, Welspun and Logistics Parks Pvt Ltd will invest ₹2000 crores.
An investment of ₹2,000 crores has been proposed by the Indian Corporation group in Varanasi for setting up logistic facilities and warehouses.
To make land available to these investors, a land bank of over 15,000 acres has been prepared by UPSIDA.
GIS Target increased
The state government has increased the target for investment through GIS from ₹10 lakh crore to ₹17 lakh crore. Previous investment targets of all departments have been revised.
The investment target of UPSIDA has also been increased from ₹70,000 crores to ₹1 lakh crore. The UPSIDA had received investment proposals worth ₹80,000 crores even before the target was revised.
