With the Uttar Pradesh government headed by Chief Minister Yogi Adityanath gearing up for the Ground-Breaking Ceremony (GBC), Phase-1, 10 major industrial houses are likely to invest Rs 1.11 lakh crore to set up their units in the state.
The aforementioned industrial houses have signed memorandums of understanding (MoU) with the UP government during the Global Investors’ Summit held in February last.
It’s worth mentioning here that the government received investment proposals totaling Rs 40 lakh crores during UPGIS 2023.
Officials said here on Thursday that in the first phase of the GBC, preparations are being made to implement proposals worth Rs 13 lakh crore on the ground, which include proposals of Rs 1.1 lakh crore from industrial giants such as Tata, Hiranandani, Tusco, and Greenko among others.
The top industrial houses have expressed their readiness to invest substantially in key sectors such as data centers, retail markets, skill development, and energy within the state.
In the first phase of the GBC, the focus will be on implementing projects related to the Data Center Park to be set up in Gautam Buddh Nagar by NIDP Developers Private Limited (Hiranandani Group). The company has proposed an investment of Rs 30,000 crore for setting up the park in the Yamuna Expressway Industrial Development Authority area.
Similarly, an invest over Rs 27,000 crore is to be made by the NTPC Limited to establish two power plants, one in Jhansi and the other in Sonbhadra. The UP State Electricity Production Corporation Limited Board has already approved the establishment of a superthermal power plant in Obra, Sonbhadra.
Besides, a project worth more than Rs 17,000 crore by Greenko is set to be established in Sonbhadra. The land acquisition process for the Off-Stream Close Loop Pump Storage Project is progressing rapidly. Similarly, a project worth Rs 8,000 crores by Sify Infinite Space Limited is being implemented on the ground, focusing on IT and electronics, with the establishment of a data center in Noida. This project is currently under construction.
Moreover, a real estate project worth Rs 7,500 crore by M3M India Pvt. Ltd. is set for launch in Noida. For this, 52,000 square meters of land have been allotted in Sector-94 of Noida and approval has also been received from RERA.
Furthermore, Tusco Limited is ready to establish a 1000-megawatt Matatila Floating Solar Power Plant with an investment of Rs 6500 crores. The establishment of this park is planned in the Lalitpur district of Bundelkhand. All necessary approvals have been obtained for the implementation of the project and significant progress has been made towards its launch during GBC.
Additionally, Bundelkhand Solar Energy Limited is initiating a project worth Rs 6,000 crore in Jalaun, which has also received approval under the MNRE National Solar Park Scheme of the Central government.
Furthermore, in Prayagraj and Mirzapur, ACME Cleantech Solutions Pvt. Ltd. is planning to implement a 1250-megawatt two Off-Stream Close Loop Pump Storage Project worth Rs 6000 crore. The Yogi Government has provided approval for this project, and the land acquisition process is underway.
Meanwhile, the high-per retail mart construction by IKEA in Noida, with an investment of Rs 4,300 crore, has begun after receiving environmental clearance. Tata Technologies is also set to spend Rs 4,174 crore to upgrade 150 ITIs in the state. The MoU for this was signed in front of the Chief Minister a few months ago.