UP Investors Summit: Entrepreneurs to Invest ₹10,000 Crores in Noida

Even before the beginning of UP Investors Summit, which had started from today and will continue until tomorrow, the Noida Authority has managed to get ₹10,000 crores fund from entrepreneurs.

UP Investors Summit
UP Investors Summit

The UP Investors Summit has been started from today and will continue untill tomorrow in the capital city, Lucknow. But, the one thing that has brought a smile on the faces of Noida’s residents is, the Noida Authority had successfully completed its target of getting ₹10,000 Crores investment, a week ahead of the UP Investors Summit.

The senior officials of the Noida Authority have said that 132 companies have already signed the provisional MoUs worth ₹9977 with the Noida Authority before the commencement of UP Investors Summit. In addition to this, the Noida Authority is in talks with other investors for further investments of around ₹5000 crores. The things for the same will get finalised in Lucknow at UP Investors Summit.

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The UP Government has set a target of ₹35,000 crores in the UP Investors Summit 2018 for all the three development authorities of Gautam Budh Nagar, Noida Authority, Greater Noida Authority and the Yamuna Expressway Authority. The state is also eyeing to complete the target of achieving ₹2 lakh crores investment in the on-going UP Investors Summit.

Out of all the 132 companies that have signed MoUs before UP Investors Summit, a few of them are Paytm (₹3,500 crore), Tata Consultancy Services (₹2,300 crore), OSE Infrastructure (₹1,000 crore), SS Technopark (₹1,000 crore), Dharampal Satyapal (₹500 crore), Haldiram Snacks (₹400 crore), Kent RO systems (₹200 crore), KK Industries (₹152 crore), Aditya Infotech (₹140 crore), Galaxy Ventures (₹100 crore) and Uflex (₹90 crore).

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As per the officials, around 300 acres of land is embarked for the investors finalised in the UP Investors Summit to establish their offices. Most part of this land falls along the Noida-Greater Noida Expressway.

Alok Tandon, Chairman and CEO, Noida Authority before UP Investors Summit said, “We want Noida to be the gateway for industrial development.” He further added, “In January this year, we launched an industrial scheme across sectors 155, 156, 157 and 159, where most of the land will be allotted. The aim is to provide entrepreneurs with a conducive environment for setting up the industry and to propel industrial growth. Industrial growth leads to the development of an area. We will pull industry not only from other parts of the country but also globally to put Noida on the industrial map.”

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