THE Uttar Pradesh government on Wednesday signed a Memorandum of Understanding (MoU) with Swedish furniture giant IKEA for the investment of Rs 5,000 crore to set up an integrated commercial project, including a store, in Noida.
The MoU was signed between R K Singh, Principal Secretary, Infrastructure and Industrial Development Department, and David McCausland, country property manager, IKEA.
According to the government, the project will provide direct employment to 4,000 people and indirect employment to 4,000 more.
UP Chief Minister Yogi Adityanath said the investment was the result of the state government’s efforts to create a conducive environment. He also promised help to all those who wish to invest in the state.
Adityanath said his government is preparing to organise the ground-breaking ceremonies of projects worth at least Rs 1 lakh crore based on MoUs signed during the investors’ summit.