The Uttar Pradesh (UP) Government headed by Chief Minister Yogi Adityanath signed Memorandums of Understanding (MoUs) with six companies from Singapore and Australia for investment worth Rs 24,560 crore (more than $4000 million) in Uttar Pradesh.
The companies signing the MoUs will invest in the data centre, logistic service, EMS for smart devices and IoT products, agro-processing cluster, data centre, and logistic park and food processing. With this, 19500 employment opportunities will be created in the state.
An official government statement stated that UP’s Chief Minister Yogi Adityanath is working on a comprehensive action plan to make the state’s economy one trillion dollars.
“For this, Global Investors Summit (GIS-23) is being organized in February.
In view of this, Uttar Pradesh state’s Water and Power Minister Swatantra Dev Singh and Energy Minister AK Sharma visited Singapore and Australia. During the tour, the team held 9 Government to Business (G2B) and Government to Government (G2G) meetings and also invited investors to the GIS,” read an official statement.
According to an official statement, this visit led 15 companies from Singapore and Australia to propose an investment of Rs 26,380 crore in the state. There is a possibility of the creation of 22,250 jobs and employment opportunities in the state if these proposals are implemented.
In this context, 6 of these companies have signed MoU with the Government of Uttar Pradesh this month. And the signing of MoUs with the remaining nine companies is likely to take place before GIS.
Star Consortium Private Limited will invest Rs 1000-1000 crore in data centre and logistic service. Investment in both these areas will create 2 thousand jobs and employment opportunities. Global State Capital Pvt Ltd Data Center will invest Rs 8260 crore. This will provide 500 jobs.
Sain Fuel and Group Companies will invest Rs 2,000 crore in EMS for smart devices and IoT products, creating 5000 jobs in the state.
A global company like Universal Success Pvt Ltd will invest Rs 5100 crore in the Data Center and Logistics Park. This investment will create 8500 employment opportunities.
Marble Rocks VCC will invest Rs 6600 crore in Agro Processing Cluster. This will provide 3000 employment opportunities. On the other hand, Sats Company will invest Rs 600 crore in food processing, creating 500 employment opportunities in the state.