Noida earned ₹300 crore from allotting industrial plots amid lockdown

The Noida authority has earned a revenue of at least ₹300 crore by allotting nine industrial plots to different companies since the nationwide lockdown was imposed

The Noida authority has earned a revenue of at least ₹300 crore by allotting nine industrial plots to different companies since the nationwide lockdown was imposed on March 25. The authority officials said the opening of industrial units at the nine plots is expected to create over 5,500 jobs over the next two years.

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The authority had started the online land allotment scheme in the first week of April to generate revenue and boost business activities in the city that had taken a hit amid the coronavirus-induced lockdown, said officials. The move was also aimed at creating jobs for those who were left out of work amid the lockdown, they added.

“To encourage industrialisation in Noida, we have allotted nine industrial plots to firms in different sectors along the Noida-Greater Noida Expressway.With these allotments, we will get a total of ₹300 crore in revenues and the city will get around ₹870 crore in investment. The firms will create over 5,600 jobs in the next two years,” said Ritu Maheshwari chief executive officer, Noida authority.

The authority has allotted the industrial plots to firms that make gas meters, sewing equipment, readymade garments, packaging material, and spices among other products. The authority has allotted industrial plots in sectors 151, 155, and 158 located along Noida-Greater Noida Expressway. The allotment letters were given to the firms on Monday.

The authority has allotted a total of 212,745.68 square meters land to the nine firms, said, officials.

The Noida authority had conducted interviews via video conferencing for finalising the firms, while giving options for face-to-face interviews between May 28, 2020 and June 4, 2020.