Uttar Pradesh Attracts Mammoth Investments: 10 Industrial Giants to Inject Rs 1.11 Lakh Crore into State Economy

Uttar Pradesh Attracts Mammoth Investment

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Mumbai: As the Uttar Pradesh government, under the leadership of Chief Minister Yogi Adityanath, prepares for the groundbreaking ceremony of Phase-1, a wave of industrial optimism is set to sweep the state. Ten major industrial powerhouses are poised to infuse a staggering Rs 1.11 lakh crore into Uttar Pradesh, fulfilling commitments made through memorandums of understanding signed during the Global Investors’ Summit in February.

The state witnessed an overwhelming response at the Uttar Pradesh Global Investors Summit in 2023, with investment proposals reaching an impressive Rs 40 lakh crores. The first phase of the Ground-Breaking Ceremony (GBC) aims to translate proposals totaling Rs 13 lakh crores into tangible projects on the ground, with key players like Tata, Hiranandani, Tusco, and Greenko leading the charge. These industry leaders are prepared to make substantial investments across vital sectors such as data centers, retail markets, skill development, and energy within the state.

In this initial phase of GBC, the spotlight shines on the implementation of projects related to the Data Center Park to be established in Gautam Buddh Nagar by NIDP Developers Private Limited, a part of the Hiranandani Group. The proposed investment of Rs 30,000 crores for this park in the Yamuna Expressway Industrial Development Authority area underscores the commitment to bolstering Uttar Pradesh’s technological infrastructure.

National Thermal Power Corporation (NTPC) Limited is set to contribute over Rs 27,000 crores to the state’s economic development by establishing two power plants in Jhansi and Sonbhadra. The approval for the super thermal power plant in Obra, Sonbhadra, by the UP State Electricity Production Corporation Limited Board, marks a significant stride in enhancing the state’s energy capabilities.

Greenko, with a project worth more than Rs 17,000 crores, is adding to the momentum with plans for an Off-Stream Close Loop Pump Storage Project in Sonbhadra. The swift progress in land acquisition for this venture indicates the dedication to timely project execution. Simultaneously, Sify Infinite Space Limited is investing Rs 8,000 crores in a ground-breaking IT and electronics project, featuring a data center in Noida, currently in the construction phase.

In Noida, M3M India Pvt Ltd is set to launch a real estate project worth Rs 7,500 crores, having secured both land in Sector-94 and approval from RERA. Tusco Limited is contributing to the state’s renewable energy landscape with a massive investment of Rs 6,500 crores in a 1000-megawatt Matatila Floating Solar Power Plant, slated for Lalitpur district in Bundelkhand.

Bundelkhand Solar Energy Limited is championing the cause of sustainable energy with a Rs 6,000 crore project in Jalaun, approved under the MNRE National Solar Park Scheme. ACME Cleantech Solutions Pvt. Ltd. is making strides in Prayagraj and Mirzapur with plans for a 1250-megawatt Off-Stream Close Loop Pump Storage Project, worth Rs 6,000 crores, following approvals from the Yogi government.

On the retail front, IKEA is making its mark in Noida with the construction of a high-end retail mart, injecting Rs 4,300 crores into the state economy after receiving environmental clearance. Meanwhile, Tata Technologies is committed to spending Rs 4,174 crores on upgrading 150 ITIs in Uttar Pradesh, contributing to the enhancement of the state’s skill development infrastructure.

In conclusion, Uttar Pradesh’s ambitious Ground-Breaking Ceremony marks a transformative moment as it attracts monumental investments from industrial giants. These initiatives not only promise economic growth but also position the state as a hub for technological innovation, sustainable energy, and skill development, setting the stage for a brighter and more prosperous future.

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