UP cabinet approves 700 acres for Electronic City project near Jewar airport

The Uttar Pradesh cabinet on Monday approved a 700-acre Electronic City project near the upcoming Noida International Airport

The Uttar Pradesh cabinet on Monday approved a 700-acre Electronic City project near the upcoming Noida International Airport.

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The first-of-its-kind project in the national capital region (NCR) is expected to help the state create a hub of electronics system design and manufacturing sector together with multiple incentives.

The Yamuna Expressway industrial development authority (Yeida) in 2020 sought the approval for the project proposed in sector 7, adjacent to the airport and along the expressway that connects Greater Noida and Agra.

“It is a matter of extremely happiness that the UP government in its annual budget has approved the project paving way for further operations to begin at the ground. Now we will ready the land and allot the same to interested companies willing to set up businesses here,” said Arun Vir Singh chief executive officer of the Yeida.

The authority has not yet set a deadline for the project or estimated cost for the project. That, officials say, will be known once detailed project report (DPR) is prepared.

“Other modalities will be worked out. We have to prepare a detailed project report and also finalise the floor area ratio that will be allowed within the sector,” said Singh.

Apart from IT industry services, outsourcing and research and development, the focus will be on attracting small, medium and big hardware manufacturers to the site due to its proximity to Dadri where multiple freight corridors and logistics hub are planned. The region is likely to shape up as a prime export and import centre and manufacturers will find it convenience to operate from this region.

Among the incentives that the state government will offer will be subsidy on interest and capital payment, common infrastructure development, tax reimbursement and up to 100% exemption from stamp duty, among others.

In 2018, Yeida had planned the project in sector 33 and had earmarked 103 acres. Now, that land will be used for a Toy City project.