Adani Group to set up multi-modal logistics park, airstrip along airport site in Jewar
The YEIDA has asked the Adani Group to submit a detailed project report, along with the 10% of total project cost, to begin the next step of the land allotment. On February 22 this year at the UP investor summit, the group signed a memorandum of understanding with the state government for the investment.noida Updated: Mar 23, 2018 00:05 IST
Adani Group representatives on Thursday met Yamuna Expressway Industrial Development Authority (YEIDA) officials to buy 2,500 acres of land for its logistics project.
The Adani Group is planning to set up the ‘Adani Multi-modal Logistics Park’ at Jewar along the 165km Yamuna Expressway that connects Greater Noida to Agra. It had, on February 22 this year at the UP investor summit, signed a memorandum of understanding with the state government for the investment. The group wants to start work on the project in 2018-19.
“Today the team from the Adani Group discussed project details and land allotment, including when they would set up the project. The Adani Group will invest ₹1,000 crore, excluding the land cost. We have asked them to deposit 10 per cent of the total project cost to begin the allotment process,” said Arun Vir Singh, chief executive officer, YEIDA.
The Adani Group’s plans for the state-of-the-art multi-modal logistics park include warehousing, cold storage facilities, and an investment in container rakes and an airstrip.
“They want to buy land in sectors 10, 11 and 12 near the site of proposed Jewar airport,” said the YEIDA CEO.
The YEIDA has asked the Adani Group to submit a detailed project report, along with the 10% of total project cost, to begin the next step of the land allotment. “Once the group deposits the money, we will call them for an interview before finalising the land allotment. The logistics park is expected to create 2,500 direct and indirect jobs in this region,” Sigh said.
The Union civil aviation ministry on June 24, 2017 had given its approval for building an international airport in Jewar. Subsequently, the YEIDA in November, 2017 had selected Singapore-based Pricewaterhouse Cooper (PwC) as consultants for the Jewar international airport project. The PwC, on March 16 this year, submitted its draft of a techno-economic feasibility report (TEFR) for the airport project.
“The airport project has helped us lure investors. Since the announcement of the airport project, many corporate houses and investors are exploring investment opportunities along the expressway,” said another YEIDA official.
First Published: Mar 23, 2018 00:05 IST