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Japan’s Marubeni looks to invest $300 million in U.P.
The state government is planning to develop special industrial parks and clusters by partnering with expert multinational companies.
The Yogi Adityanath government’s initiative to bring more foreign direct investments (FDIs) into the state got further boost with Japan’s prominent industrial group Marubeni Corporation expressing its desire to invest 300 million US dollars in the state to set up next generation industrial parks.
The state government is planning to develop special industrial parks and clusters by partnering with expert multinational companies.
Marubeni Corporation is a conglomerate of 413 companies and is operational in 65 countries.
Headquartered in Tokyo, Marubeni is a major player in the import-export business for grain and paper pulp, and builds industrial and power plants.
They have already developed industrial parks in Dalian (China), Cavite (Philippines), and Lat Krabang (Thailand).
Industrial corridors at 30 locations in 29 districts
Industrial corridors are being developed along existing and under-construction expressways. Lee Associates South Asia Pvt. Ltd. has been tied up with to develop the corridors in Jalaun and Banda along the Bundelkhand Expressway and Lucknow, Sultanpur, Azamgarh, Ghazipur and Barabanki along Purvanchal Expressway, said the state government.
The corridors are being developed at 30 sites across 29 districts in the state.
The Yogi government has proposed to develop special industrial clusters and parks by partnering with expert multinational companies and institutions.
Under this model, UPEIDA will provide land and the respective organizations will handle infrastructure development and marketing.
Marubeni Corporation has proposed setting up a next-generation industrial park based on this model. Once approved by the government, the company will start investing in the project.
