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Soon, ‘Japanese’, ‘Korean’ cities to come up near Jewar airport in UP: Report
The decision to build these cities was taken during meetings with the Japanese and Korean investors ahead of the UP Global Investors Summit last year.
The Yamuna Expressway Industrial Authority has decided to set aside two sectors in Gautam Buddh Nagar district as Japansese and Korean industrial cities. Companies from the two countries will set up their industrial offices in these cities, Live Hindustan reported on Sunday. While the Japanese city will come up in sector 5A of the expressway, the Korean city will be set up in sector 4A. The cities will also have residential areas for its foreign staff.
The Jewar airport is set to be inaugurated in Noida at a distance of barely 10 km from the place where these cities are to be built. This is expected to give a boost to the two projects.
The decision to build these cities was taken during meetings with the Japanese and Korean investors ahead of the UP Global Investors Summit last year. Representatives of these countries also visited the industrial sectors last year.
The cities are expected to be developed at a cost of 2,544 crore. Speaking about the development of these cities Arun Vir Singh, CEO of Yamuna Industrial Development Authority said that the electronic hubs would have firms manufacturing chips, AI equipment, semiconductors and cameras.
“They are being planned to be self-sufficient, with provisions for housing, schools, hospitals and other essential amenities for the Japanese and Korean citizens staying there,” TOI quoted him as saying.
Meanwhile, Shailendra Bhatia, an Officer on Special Duty (OSD) at Yamuna Industrial Development Authority told the publishing house that the sectors would have mixed land use with 70 per cent set aide for core industry and 13 per cent for commercial use. 10 per cent will be allocated for residential needs and 5 per cent for institutional purposes.
HT had reported in December last year that officials of the Yamuna Expressway Industrial Development Authority would visit Japan, South Korea and Singapore in a bid to urge business firms there to set up units in Noida, Greater Noida and the Yamuna Expressway region.
“We will explain the terms and conditions of different schemes, which have been launched to sell our industrial plots so that potential investors are aware of their benefits. We want to attract investors so that they set up manufacturing units of electronic products as well as medical equipment. We have a host of schemes for the medical device park and electronics hubs being developed along the Yamuna Expressway near the Noida International Airport site in Jewar”, said Arun Vir Singh, chief executive officer (CEO) of Yamuna Industrial Development Authority ahead of his visit to Japan and South Korea last year.
