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UPSIDA to monitor 117 MoUs signed during 2018 investors’ summit

According to a statement issued by the UPSIDA, with the continuous support and assistance from the nodal officers, projects with an investment of Rs 770 crore have successfully commenced commercial production.

By: Express News Service | Lucknow | October 30, 2020 5:11:05 am
Yogi Adityanath, gupkal declaration, congress, jammu and kashmir DDC polls, farooq abdullah, mehbooba mufti, indian expressThe Uttar Pradesh Chief Minister alleged Congress leaders are 'shamelessly supporting separatists as they do not want the development of Jammu and Kashmir'.

The state Infrastructure and Industrial Development Department (IIDD) has identified and mapped 117 Memorandums of Understanding (MoUs) to 13 nodal officers from UP State Industrial Development Authority (UPSIDA) for tracking progress and facilitating its implementation. The MoUs were signed between the investors and the state government during the investors’ summit in February 2018.

According to a statement issued by the UPSIDA, with the continuous support and assistance from the nodal officers, projects with an investment of Rs 770 crore have successfully commenced commercial production. In case of an additional seven projects with an investment of Rs 412 crore, construction has been completed and the units shall start commercial operations shortly.

“Nodal officers from UPSIDA have made tremendous efforts by ensuring swift assistance to investors for effective implementation of the MoU-monitoring mechanism as envisaged by Chief Minister Yogi Adityanath to ensure implementation of investment proposals through better coordination with investors and efficient tracking of investment lifecycles of projects,” it added.

On Thursday, a review meeting of cases mapped to UPSIDA was held with Infrastructure and Industrial Development Commissioner.

The investors also interacted and communicated their issues individually through video conferencing. During the interaction, Ashwani Sharma of Innovatiq Engineers Limited informed that they have decided to increase their investment in UP from Rs 100 crore to Rs 130 crore as they are impressed by the assistance provided to them by UPSIDA.

In another meeting on Logistics and Warehousing proposals received in the state, the senior officials appreciated the efforts undertaken by UPSIDA resulting in six promoters showing interest in putting logistics and warehousing projects in Uttar Pradesh for companies like Amazon, Flipkart and Snapdeal, the statement said.

Coming of these logistics and warehousing projects will bring in better infrastructure, accelerate economic growth and provide employment to hundreds of people, added the statement.

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