Investors ink MoUs to invest Rs 60,000 cr in Uttar Pradesh

Jun 12 2014, 21:05 IST
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SummaryUP government received initial investment commitments of Rs 60,000 crore from companies, including Reliance Jio, Fortis and ITC.

The Uttar Pradesh government today received initial investment commitments of Rs 60,000 crore from companies, including Reliance Jio, Fortis and ITC, in areas ranging from agriculture to telecommunications.

Enthused by the "success" of the Investor Conclave held here, state Chief Minister Akhilesh Yadav assured investors of extending help and co-operation in fructifying the projects in the days to come.

"The investors have shown interest. The UP Conclave has been a success. MoUs worth more than Rs 60,000 crore have been signed today. The government will continuously follow these investors, cooperate with them and resolve their matters," he said.

Subhash Chandra-led Essel Group signed a Memorandum of Understanding (MoU) to invest Rs 20,000 crore in areas like urban development and power distribution; Mukesh Ambani's Reliance Jio pledged Rs 5,000 crore outlay for implementation of 4G network.

FMCG major ITC plans to invest Rs 2,100 crore in various sectors; Fortis Healthcare promised Rs 800 crore outlay for setting up three 250-bed hospitals each at Kanpur, Lucknow and Greater Noida.

Amity Group pledged Rs 2,000 crore investment for setting up an educational complex in Kanpur.

Uflex promised Rs 4,000 crore for setting up a 300 MW solar park in Bundelkhand region.

Investment of Rs 2,200 crore was committed by JVL Agro Industries in agro and food processing sectors. River Engineering plans to set up an air taxi base for Rs 350 crore. Sonalika plans Rs 200 crore investment for setting up a farm equipment and tractor manufacturing base.

Shree Cement plans to build its maiden manufacturing base in the state with Rs 550 crore investment for setting up a cement grinding unit. UK-based Ultra Fairwood Group has also tied up with the state government to invest Rs 220 crore in the state.

Investments have also been proposed by Azure Power (Rs 800 crore), UP Food & Logistics Park (Rs 500 crore), Reekriti Food Park (Rs 200 crore) and Dunkan Goenka Group (Rs 100 crore) among others.

Yadav said his government would strive to get more investment to the state and promised investors of all possible help in order to facilitate them grow and prosper.

"Had we not worked, not provided 24-hour power for industry and created infrastructure, then MoUs worth so much money would not have been signed," Yadav said.

"I can assure you that the work that has been started, it will not stop and I will give time as much as I can, meet each one in person and bring out solutions,"

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