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Friday, Aug 16, 2019

Rs 499.46 crore investment in Yamuna Expressway area

According to YEIDA, 10 companies had in July submitted their proposals, expressing their intention to set up businesses. Out of 10, six industrial allottees have been allocated plots so far.

noida Updated: Aug 14, 2019 01:02 IST
Vinod Rajput
The Yamuna Expressway industrial development authority has said it received R499.46 crore investment recently as nine firms have purchased land to set up their businesses along the 165km Yamuna Expressway.
The Yamuna Expressway industrial development authority has said it received R499.46 crore investment recently as nine firms have purchased land to set up their businesses along the 165km Yamuna Expressway. (Virendra Singh Gosain/HT PHOTO)
         

The Yamuna Expressway industrial development authority has said it received R499.46 crore investment recently as nine firms have purchased land to set up their businesses along the 165km Yamuna Expressway. The authority said the Jewar airport has boosted investment in this region.

“Ever since work on the airport project was expedited and development at the site picked up pace, many parties are interested in investing along the 165km Yamuna Expressway. In the last one month, we have allotted land worth R499.46 crore to nine firms that want to set up units,” said Shailendra Bhatia officer on special duty, YEIDA.

According to YEIDA, 10 companies had in July submitted their proposals, expressing their intention to set up businesses. Out of 10, six industrial allottees have been allocated plots so far.

The YEIDA has allotted 39 acres land to six industrial firms. Three investors were allotted 2.5 acres of institutional land.

The industrial firms deal in manufacturing of steel girders, railway components, electrical control panels, etc., officials said. Plots were also alloted for a food processing unit and cold storage for vegetables and beverages.

The YEIDA chief executive officer had formed a committee headed by him to decide the proposals submitted by investors. The committee decides whether allotment should be done on their terms and conditions or not.

The committee had on August 2 approved the proposals of the six industrial firms, which are expected to generate 1146 jobs. The three institutional firms are expected to generate 200 jobs in their units, officials said.

“R5 crore has been invested in institutional land and the remaining in industrial plots. We hope investment will continue to flow into this region and create jobs. We allotted these plots through our open-ended scheme. Under this scheme, investors can come, explore, choose and buy land suited for their respective businesses,” said Bhatia.

First Published: Aug 13, 2019 22:46 IST

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