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Published On: Thu, Feb 15th, 2018

Ghaziabad to chip in with ₹4,400 crore MoUs for UP investors’ summit

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1513941616-718LUCKNOW: Various agencies in Ghaziabad will be chipping in with memorandum of understanding (MoUs) of nearly ₹4,400 crore for the upcoming UP Investors’ Summit in Lucknow.Prime Minister Narendra Modi will be the chief guest of the two-day event which will start on February 21.
The government has invited investors, projecting the state as a major investment destination by showcasing its skilled manpower, connectivity, locations and proactive governance. For the summit, the Ghaziabad officials have so far signed 90 MoUs with investors from the private sector and have prepared proposals for projects worth nearly ₹3,671 crore.
“We plan to add MoUs worth nearly ₹800-900 crore more to our tally, and try to send proposals worth nearly ₹4,400 crore to the state government. The majority of proposals have been prepared by the Ghaziabad development authority (GDA) which intends to bring in an investment of nearly ₹2,900 crore,” GDA vice-chairperson Ritu Maheshwari said.
The state government is focussing on bringing in investment in sectors such as electronics manufacturing, textiles, tourism, IT & IT enabled services, civil aviation and renewable energy, among others.

The development authority’s proposals are mostly in the real estate sector with majority investments coming in from private developers in the form of group housing projects, affordable housing projects, ‘Pradhan Mantri Avas Yojna’, malls, schools, hotels, etc.

“We also have proposals from the industries department as Ghaziabad is also a major industrial hub. The other proposals are being prepared by the UP State Industrial Development Corporation. The development authority also has some industrial and commercial plots which will be sold in an auction. These (plots) are worth nearly ₹350 crore but we will not be able to incorporate these into the proposals for the investors’ summit,” Maheshwari added.                                                                                                          The projects proposed by the GDA are located in Raj Nagar Extension, Indirapuram, NH-24, Koyal Enclave and Indraprastha housing scheme areas.The GDA officials said that the proposed investment projects under the summit will be completed within a time frame of two to three years, and all the pending proposals will be submitted to the state government within the next week after finalisation.
Apart from the GDA, its counterpart authorities in Noida, Greater Noida and Yamuna Expressway areas in Gautam Budh Nagar district will also be chipping in with investment MoUs running into thousands of crores of rupees.According to officials, the Greater Noida authority will sign 50 MoUs worth ₹5,000 crore, the Noida authority will sign 15 MoUs worth around ₹5,000 crore and the YEIDA will sign 10 MOUs worth ₹6,315 crore.                                      The UP investors’ Summit-2018 will also include partner countries such as The Netherlands, Japan, Slovakia, Czech Republic, Finland and Mauritius, to name some.

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