YEIDA plans medical hub, university township, Taiwan City; move to create new investment avenues

YEIDA plans medical hub, university township, Taiwan City; move to create new investment avenues

Lucknow, The Yamuna Expressway Industrial Development Authority on Monday took several important proposals related to industrial development, medical education, pharmaceuticals, medical devices, transportation, sports and farmers at its 92nd Board meeting in Greater Noida, according to a statement.

YEIDA plans medical hub, university township, Taiwan City; move to create new investment avenues

The decisions will accelerate the development of the Jewar-Noida Airport region as an integrated industrial and institutional hub.

Initiatives such as a medical hub, university township, international stadium, interstate bus terminal, Taiwan City and pharmaceutical manufacturing cluster are expected to create new avenues for investment and employment in the region, it said.

One of the most significant decisions taken at the meeting was the establishment of a medical hub on 500 acres of institutional land-use area in Sectors 13 and 14, as well as a plan to develop a university township on 480 acres in Sector 14.

These projects will create new opportunities for high-quality medical facilities and higher education in the region, and generate employment opportunities in healthcare, education and allied services in the surrounding areas, the statement said.

To provide an international-level platform for sports talents, around 50 acres of land in Sector 23D has been identified for a modern international stadium. This could potentially host major national and international sporting events, and help provide better training and competitive facilities to local and state-level sportspersons.

Around 36 acres in Sector 34 have been identified to establish a mandi with modern facilities. This will help improve facilities related to the marketing, storage and trade of agricultural produce, and provide farmers in the region with a more organised market system.

In view of the rapidly growing transportation requirements around Noida International Airport in Jewar, a decision has been taken to identify land for establishing an interstate bus terminal in Sector 23C. The facility will provide better public transport connectivity to passengers travelling to and from the airport, entrepreneurs and the general public. It will also strengthen connectivity between the airport, industrial areas and newly developing urban centres in the surrounding region.

Another important decision taken was to promote foreign investment in the electronics and technology manufacturing sector in Uttar Pradesh.

The Board approved a proposal to reserve 300 acres of land in Sector 6 for establishing Taiwan City. The project is expected to enhance the prospects of attracting Taiwan-based companies and investments related to technology manufacturing. It will strengthen the electronics, technology and manufacturing ecosystem in the region.

The Board also took a major decision towards establishing Uttar Pradesh as a leading pharmaceutical manufacturing centre. It was decided to reserve around 100 to 125 acres of land in Sector 6 to develop a dedicated Pharmaceutical Formulation Manufacturing Cluster.

The cluster is envisaged to house units engaged in manufacturing medicines in accordance with national and international Good Manufacturing Practice standards. Units manufacturing tablets, capsules, injectables, oral liquids, topical preparations and finished dosage forms are proposed to be established here.

The initiative will attract investments from national and international pharmaceutical companies while creating significant employment opportunities.

To strengthen the medical device sector, the Board also approved a proposal to establish a medical device testing facility at YEIDA's Medical Device Park in accordance with the US FDA's Accreditation Scheme for Conformity Assessment.

The Board also approved a proposal to constitute a Technical Expert Committee to examine the technical, financial and institutional aspects of the project.

The Board also approved the construction of a culvert over the Karban River on the service road at Chainage 161.21 of the Yamuna Expressway in Agra, within the YEIDA area.

In view of rapid industrial and infrastructure development in the region, the Board approved a proposal to revise land purchase rates from farmers on mutual consent. Under the proposal, the existing rate for purchasing land through mutual consent for planned development in Gautam Buddha Nagar and Bulandshahr districts under Phase-1 of the Authority has been increased from ₹4,300 per square metre to ₹4,558 per square metre.

The revised rate represents a 6 per cent increase. As an alternative arrangement, a rate of ₹4,037 per square metre along with 7 per cent abadi plots has also been determined for land purchase.

The financial position of the Authority was also presented at the Board meeting.

This article was generated from an automated news agency feed without modifications to text.