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U.P. govt guarantees safety of investors’ capital, says Yogi
The CM said that in an important development, JK Cement, once a prominent investor in Uttar Pradesh who had lost confidence in the state and shifted its investments elsewhere, had made a return to the state.
PRAYAGRAJ: UP Chief Minister Yogi Adityanath, on Wednesday, said that investments in Uttar Pradesh were entirely secure and profitable for businesses, with the state government guaranteeing the safety of investors’ capital.
Virtually inaugurating a new cement plant with a capacity of 20 lakh tonnes in Bara tehsil of Prayagraj, set up by JK Cement, the chief minister said that the reforms introduced by the government, coupled with robust policies and effective implementation, had resulted in Uttar Pradesh emerging as a leading state in terms of ease of doing business.
The CM said that in an important development, JK Cement, once a prominent investor in Uttar Pradesh who had lost confidence in the state and shifted its investments elsewhere, had made a return to the state. JK Cement’s new plant in Prayagraj was the company’s third in Uttar Pradesh, after Aligarh and Hamirpur, he said.
Yogi said that after the formation of the double-engine government in 2017, the JK Group spent three years assessing the government’s credibility. Once the results of the government’s actions became evident, the JK Group committed to establishing three plants in Uttar Pradesh, with total investments of ₹1,200 crore - in Aligarh in 2020, Hamirpur in 2022, and Prayagraj in 2024, he maintained.
The CM also said that Uttar Pradesh now boasted an extensive network of railways, expressways, and highways, enabling easy distribution of locally produced goods to other states. He further emphasised that Uttar Pradesh had become a top investment destination in the country.
“JK Cement’s reinforces the state’s industrial growth without any industrial group feeling compelled to relocate. In the past seven years, Uttar Pradesh has cultivated an investment-friendly environment, propelling the state in ease of doing business list from the 14th place in 2016 to the 2nd place today.
CM Yogi further said that Uttar Pradesh demonstrated how to successfully host an Investors’ Summit through GIS-2023, attracting investment proposals exceeding ₹40 lakh crore.
Others present were industrial development minister Nand Kumar Gupta ‘Nandi’, minister of state for industrial development Jaswant Singh Saini, state chief secretary and industrial development commissioner Manoj Kumar Singh, principal secretary of industrial development department Anil Sagar, JK Cement vice-president Nidhipati Singhania, managing director Raghavpati Singhania, CEO Madhav Krishna Singhania along with other dignitaries.
PHOTO: UP CM Yogi Adityanath virtually inaugurating cement factory in Bara tehsil of Prayagraj on Wednesday (HT)
