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Team Yogi signs MoUs worth Rs 19,265 cr with US, Canada firms

The UP team received 27 letters of intent worth more than Rs 41,000 crore, of which eight proposals were converted into MoUs.

Statesman News Service | Lucknow |

Having succeeded in presenting a progressive transformation of Uttar Pradesh before the investors in the US and Canada ahead of the Global Investors Summit, Team Yogi has not only received several investment proposals (Letters of Intent) in the state, but has also signed MoUs worth Rs 19,265 crore.

The team, under the leadership of Assembly Speaker Satish Mahana and Animal Husbandry Minister Dharampal Singh which visited the places, held about 51 Government to Government (G2G) and Business to Business (B2B) meetings in a span of three days, receiving 27 letters of intent worth more than Rs 41,000 crores, of which eight proposals were converted into MoUs. Of these MoUs, four strategic partnerships were signed. The MoUs on the remaining 19 proposals are expected to be signed before GIS-23, officials here on Tuesday said.

During the visit, Satish Mahana met Indian-origin Speaker of the Legislative Assembly of British Columbia, Raj Chouhan and held government to government level talks with him during the roundtable conference. The Animal Husbandry Minister of Uttar Pradesh Dharampal Singh met Canada’s Forest Minister, and Minister of Employment and Economic Recovery and Minister of State for Trade.

The maximum investment in the MoUs signed so far is going to be in the Logistics, Defence and Aerospace sectors. Mobility Infrastructure Group will invest Rs 8200 crores in this sector within the state. With this, about 100 employment opportunities will be generated in the state. At the same time, QSTC Inc will also invest Rs 8200 crore in defence and aerospace. This will create about 200 employment opportunities.

MoUs totalling Rs 2,055 crore were signed between the state government and health care sector companies. Under this, My Health Center and ZMQ Companies will invest Rs 2,050 crore and Rs 5 crore respectively. This will create about 500 and 60 employment opportunities. On the other hand, Dezero Labs Inc company will invest Rs 10 crore in medical devices. This will create about 75 job opportunities.

MoUs were also signed during the visit for investment in consumer durables, hospitality and electronic manufacturing sectors. Akuwa Technology will invest Rs 100 crore in these sectors, providing 25 jobs. Opulence Management Corp will invest Rs 500 crore in the hospitality sector, creating as many as 300 employment opportunities whereas Virtubox has signed an MoU for investment in the electronic manufacturing sector. It will invest Rs 200 crore, creating about 150 job opportunities.