Chasing an investment target of Rs 60,000 crore for next year’s UP Global Investment Summit, the Noida Authority has signed MoUs with nearly 50 companies, including Godrej Properties and M3M, for investments worth over Rs 25,800 crore.
M3M India and Godrej Properties will invest Rs 7,500 crore and Rs 2,400 crore, respectively, in real estate projects here. Similarly, Assotech Realty has signed an MOU to invest Rs 950 crore for the expansion of their business. Besides, investment proposals worth Rs 7,000 crore by around 40 small companies are in the pipeline and MoUs with them are slated to be signed in the next couple of days.
In fact, each of the three industrial development agencies in Gautam Budh Nagar — Noida, Greater Noida and Yamuna Expressway — has been given a target to secure investment proposals of Rs 60,000 crore for the upcoming Summit to be held in Lucknow from February 10 to 12. Overall, the UP government has fixed a target of Rs 10 lakh crore for the summit.
The government has also formed 18 delegations of senior officials to bring in investments from across the globe. While Noida and Greater Noida CEO Ritu Maheshwari will be travelling to Australia and Singapore, YEIDA CEO Arun Vir Singh is slated to visit Japan and South Korea to hold talks with potential for-eign investors.
As far as MoUs are concerned, Noida Authority’s OSD Avinash Tripathi said, “All the agreements are being uploaded on the UP’s Nivesh Mitra portal. Any company that approaches us with an investment proposal is urged to sign on the portal. We are halfway through the investment target in terms of MoUs signed so far. There is a single window clearance system through which all sort of services, including the allotment letter, is issued to investors.”
The investors are also told about the presence of all renowned companies in Noida and areas under the other two authorities and investments done in the past few years. There are already 10,000 units functional in Noida.
YEIDA CEO Singh said that the Authority would offer large chunks of land to companies in Japan and Korea to set up industrial townships in the region. “We are going to these countries to bring investments in the field of medical device park, apparel, data centre, pharmaceuticals and electronics manufacturing.”
“We will be holding B2G meetings with companies like Samsung and Korea Overseas Infrastructure and Urban Development Corporation and companies like Yamaha, Honda, Mitsui and Nippon in Japan. Besides, we will be holding roadshows in Seoul and Japan,” he added.
