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UP to celebrate implementation of 80 MoUs

Yogi Adityanath government is going to hold a mega ceremony here next month to mark the implementation of 80 Memorandums of Understanding involving an investment of Rs 50,000 crore in Uttar Pradesh.

lucknow Updated: May 24, 2018 14:13 IST
Umesh Raghuvanshi
Umesh Raghuvanshi
Hindustan Times, Lucknow
UP,Uttar Pradesh,MoUs
Minister for industry Satish Mahana presided over the interactive session called to discuss the investments.(HT Photo)

Yogi Adityanath government is going to hold a mega ceremony here next month to mark the implementation of 80 Memorandums of Understanding (MoUs) involving an investment of Rs 50,000 crore in Uttar Pradesh.

“A grand ceremony will be organised at the Indira Gandhi Pratisthan next month to implement nearly 80 projects involving investment of Rs 50,000 crore. This marks highest conversion rate for the 1045 MoUs signed for Rs 4.28 lakh crore ahead of the UP Investors Summit-2018. An additional investment of Rs 40,000 crore was later promised bringing the total estimated investment to Rs 4.68 lakh crore,” said Infrastructure and Industrial Development Commissioner (IIDC) Anoop Chandra Pandey after attending a marathon interactive session with the investors, who had signed the MoUs ahead of the summit held here on February 21 and 22, 2018.

“We are going to have more investment in UP in one year than the investment received in last 15 years,” said minister for industry Satish Mahana who presided over the interactive session.

“Other states have been able to implement only 8 to 10 percent MoUs. We will now be holding more such ground breaking ceremonies every two month to ensure implementation of the MoUs shortlisted by the government. On Wednesday, we invited only those investors, whose projects are ready for inclusion in the first ground breaking ceremony,” said Pandey.

Pandey said the investors would be honoured at the ceremony and foundation stones of the new projects will be unveiled. He said all the departments have been asked to issue provisional Letters of Comfort (LoCs) to the investors as a mark of assurance of government’s intent of holding their hands to implement the projects with ease in a time bound manner.

Those who have met senior officers of the state government in the past few days include representatives of Tata Consultancy Services, PayTM, ACC Cement, Tegna Electronics, Metro Cash and Carry, Berger Paints, Greenply Industries, PTC Industries, Kanodia Group, Paswara Paper, DCM Shriram, B L Agro Industries, Goldie Masale, Tikaula Sugar Mills, Yash Papers, C P Milk and Food Products, Sukhbir Agro Energy, HPCL, GAIL, SLMG Beverages, etc. These companies have proposed investment in a range of sectors that include cement, food processing, paper, textiles, information technology, electronics manufacturing, renewable energy, power and dairy development etc.

First Published: May 24, 2018 14:13 IST