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Thursday, August 05, 2021

UP government: Got investment proposals of Rs 13,408 crores in 3.5 years

However, of all these sectors, manufacturing is the most preferred among investors, the government claimed.

By: Express News Service | Lucknow |
Updated: June 18, 2021 3:02:26 am
It further said the government has already provided land to 66 of the 88 domestic companies which have sent investment proposals to set up manufacturing units. (File)

The Uttar Pradesh government on Thursday claimed that it had received 98 investment proposals worth Rs 13,408 crores in the manufacturing sector over the last three-and-a-half years. An official spokesperson for the government said the industrialists from across the country and abroad have committed to investing majorly in infrastructure, food processing, textile, electronic manufacturing, real estate, power and manufacturing sectors in the state.

However, of all these sectors, manufacturing is the most preferred among investors, the government claimed.

As per data available with the Department of Industrial Development, of the 98 investment proposals in the manufacturing sector, 10 are from foreign investors worth Rs 4,250 crores, while the remaining 88 are from domestic companies willing to set up large manufacturing units. The state claimed that these units would provide employment opportunities to more than 22,028 people.

It further said the government has already provided land to 66 of the 88 domestic companies which have sent investment proposals to set up manufacturing units. Most have completed the construction of their units and started production as well, while 26 top industrialists are moving ahead with their plans to set up shop.

The government spokesperson said that while Covestro IP is setting up a plastic manufacturing unit in Gautam Budh Nagar (Noida) at the cost of Rs 800 crores, UltraTech Company is building a cement factory in Prayagraj at the cost of Rs 600 crores. Sparsh Industries Private Limited and Rimjhim Ispat have invested Rs 600 crores and Rs 550 crores, respectively in Kanpur, while DCM Shriram is setting up a sugar mill in Hardoi at the cost of Rs 361 crores. Kent RO Systems Ltd has invested Rs 300 crore in Gautam Budh Nagar, while PTC Industries Ltd has invested Rs 205 crores in Lucknow.

Citing more investments, the government said MM Forgings Pvt Ltd has invested Rs 150 crores in Barabanki and Password Papers has pumped in Rs 351 crores in Meerut. Silverstone is setting up a paper mill in Muzaffarnagar at the cost of Rs 180 crores. Most of these firms have started production. The state also said Kanodia Group is investing Rs 1,200 crores in Amethi, while JK Cement Limited will spend Rs 650 crores for its Aligarh plant.

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