UP Cabinet approves multi-crore investments, makes project report must to cut losses

After the Cabinet meeting, Industries Minister Satish Mahana told mediapersons that Intex Technologies India Limited will be investing in two phases

By: Express News Service | Lucknow | Updated: June 14, 2017 6:03 am
UP Cabinet, Uttar Pradesh, Uttar Pradesh Cabinet, UP CM Yogi Adityanath, India News, Indian Express, Indian Express News UP CM Yogi Adityanath (PTI Photo)

The Cabinet on Tuesday cleared multi-crore investments by two tech giants in the state, claiming the deals will provide employment to nearly 10,000 people. While Samsung India Electronics Private Limited will be investing Rs 4,915 crore in UP, Intex Technologies India Limited will be investing Rs 372 crore.

After the Cabinet meeting, Industries Minister Satish Mahana told mediapersons that Intex Technologies India Limited will be investing in two phases. He also said Samsung India Electronics Private Limited had earlier obtained clearance from the previous government for an investment of Rs 517 crore as well, adding that the state government was providing an “ideal atmosphere” for investment.

In another decision, the government passed a proposal regarding appointment of consultants for the installation of an advance traffic management system and toll plazas along the Lucknow-Agra Expressway. The Cabinet also decided that in future, a detailed project report (DPR) would be mandatory before work begins. Cabinet minister Siddharth Nath Singh said that problems of cost overrun and time overrun have plagued the execution of projects, which made them a “financial burden” on the state exchequer. Singh said such problems have been faced in projects announced and started without preparing a DPR, checking availability of funds and land and without finalising the date of start and completion.

Singh said it was decided on Tuesday that a DPR would be a must for every project and that the report would have information like availability and source of funds, availability of land and its cost, dates of start and completion. The DPR will be uploaded on the government’s website too.

Singh added that projects would be monitored to prevent cost and time overrun. “That system will give pace to development projects in the state,” the minister said. The Cabinet also approved a policy regarding transfer of doctors in districts of different categories. “The Cabinet has decided to employ 1,000 doctors, including 500 specialists, on a contract of one year. The contract might be extended for two more years depending on their performance,” PTI quoted Singh as saying.

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  1. R
    Raja segaran
    Jun 14, 2017 at 4:25 pm
    IT IS NOT A HARD JOB TO PREPARE A TROUBLE FREE, LOSS FREE PROJECT REPORT. IT IS A HARD JOB TO RUN TROUBLE FREE, LOSS FREE PROJECT. IT IS THE BEST METHOD TO ACQUIRE GOVERNMENT LAND AT THROWAWAY PRICE.
    Reply