Noida, G Noida get ready for investors’ event - Hindustan Times
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Noida, G Noida get ready for investors’ event

Jan 22, 2024 07:10 AM IST

Noida and Greater Noida authorities are preparing for a "ground-breaking ceremony" to reveal the investments received in the current financial year. A total of ₹587,000 crore investment proposals have been signed, with 84% of the ₹60,000 crore target achieved in Greater Noida and 70% of the ₹90,000 crore target achieved in Noida. These investments are expected to create around 70,000 jobs in Greater Noida and 54,000 jobs in Noida.

The Noida and the Greater Noida authorities have started preparations for a “ground-breaking ceremony” for the investment proposals to reveal how much investment the government has realised in the current financial year, officials said.

Noida, India- April 03, 2023: The Noida authority new building being built in sector 96 is about to get ready as the work is at advance stage, in Noida, India, on Monday, April 03, 2023. (Photo by Sunil Ghosh / Hindustan Times) To go with Vinod’s story
Noida, India- April 03, 2023: The Noida authority new building being built in sector 96 is about to get ready as the work is at advance stage, in Noida, India, on Monday, April 03, 2023. (Photo by Sunil Ghosh / Hindustan Times) To go with Vinod’s story

The two authorities will announce the investments received a year a year after Uttar Pradesh Global Investors Summit 2023 was held at the event, the date for which is yet to be finalised.

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A total of 587,000 crore investment memorandum of understanding proposals had been signed by the investors who want to set up units in Noida and Greater Noida, said officials.

Following the state government orders, both Noida and Greater Noida authorities had organised roadshows, and events to attract investors.

The Uttar Pradesh government had engaged all departments and industrial bodies in luring the investors in the run up to the Uttar Pradesh Global Investors Summit held last February, said officials.

Later, the Noida set a target of 90,000 crore investment and Greater Noida fixed a target of 60,000 crore. For this, the two authorities signed memorandum of understandings (MoUs) with the companies or investors, who had desired to invest money to set up units in the two cities.

According to chief executive officer (CEO), Greater Noida authority, Ravikumar NG, they have achieved 84 percent of the 60,000 crore target so far and work is in full swing to realize the remaining component.

He said the staff is making a list of the companies, which have already started investing and “we are realising the objective of creating job and opportunities”.

“In the ground breaking ceremony, these companies will participate but the date is yet to be finalised,” said the CEO.

There are 45 realtors, 32 commercial projects and 26 institutional including IT Parks, that have invested to set up business in Greater Noida. Together, these units will create around 70,000 jobs, said the Greater Noida authority officials.

Similarly, the Noida authority has achieved 70 percent of 90,000 crore target.

“The companies have bought the land, paid the money and started setting up units in the city,” said Noida authority’s CEO Lokesh M.

In Noida, there are 99 companies including realtors, IT and industrial units, which are investing. Together, these companies will create 54,000 jobs, said Noida authority officials.

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  • ABOUT THE AUTHOR
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    Vinod Rajput writes on environment, infrastructure, real estate and government policies in Noida and Greater Noida. He has reported on environment and infrastructure in Delhi, Gurgaon and Panchkula in the past.

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