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Uttar Pradesh: 14,000 projects worth ₹10 lakh crore to be rolled out at fourth groundbreaking ceremony on February 19
The Yogi Adityanath government in Uttar Pradesh is set to roll out ₹10 lakh crore worth of MoUs covering 14,000 projects, expected to create 33.50 lakh employment opportunities. This investment is five times greater than the cumulative investment of the previous three groundbreaking ceremonies. The event will take place on February 19 in the presence of Prime Minister Narendra Modi.
The Yogi Adityanath government is all set kick-start another phase of development in Uttar Pradesh with the Groundbreaking Ceremony 4.0 in which ₹10 lakh crore memorandums of understanding (MoUs) covering 14,000 projects will be rolled out on February 19 in the presence of Prime Minister Narendra Modi in Lucknow. These projects are expected to create 33.50 lakh employment opportunities in the state.
The projected investment rollout for GBC 4.0 is five times greater than the cumulative investment of over ₹2.10 lakh crore implemented in the previous three groundbreaking ceremonies, the state government said.
Over 52 per cent of these projects this time will be launched in western Uttar Pradesh, which is also known as Paschimanchal region, according to the state government.
Around 29 per cent of the MoUs will be implemented in the Purvanchal region, which comprises eastern parts of the state.
Besides, 14 per cent MoUs will be implemented in Madhyanchal, and 5 per cent in Bundelkhand. These MoUs were signed at the Uttar Pradesh Global Investors’ Summit-2023 organised in Lucknow in February 2023.
Around 3000 people, including eminent industrialists, representatives of 500 companies, foreign investors, ambassadors, high commissioners and other distinguished guests will attend the February 19 event.
A major slice of investment of 19.24 per cent is in the housing sector, according to the state government.
In addition, 15 per cent investment is in the renewable energy sector, 13 per cent in manufacturing, 10 per cent in IT and IT-enabled services, 7.83 per cent in logistics and warehousing, 7.5 per cent in energy, 6.01 per cent in food processing and 5.27 per cent in electronics manufacturing.
PREVIOUS GROUNDBREAKING CEREMONIES
Three groundbreaking ceremonies have already taken place in the state, bringing investment of over ₹2.10 lakh crore
The first UP Investors’ Summit was held in February 2018 in which 1045 MoUs worth ₹4.28 lakh crore were signed.
The first groundbreaking ceremony took place in July 2018, followed by another in July 2019, resulting in the successful launch of 81 projects with investment of ₹61,792 crore and about 290 projects with investment of ₹67,202 crore, respectively.
In June 2022, the third edition of the groundbreaking ceremony witnessed the launch of over 1,400 projects amounting to an investment of over ₹80,000 crore.
