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  1. Firms ink MoUs worth Rs 50,098 crore with UP

Firms ink MoUs worth Rs 50,098 crore with UP

The Uttar Pradesh (UP) government on Thursday signed more than 45 memorandums of understanding (MoUs) with companies, worth Rs 50,098 crore...

By: | Mumbai | Published: September 11, 2015 12:42 AM

The Uttar Pradesh (UP) government on Thursday signed more than 45 memorandums of understanding (MoUs) with companies, worth Rs 50,098 crore, during its Mumbai Investor Conclave.

UP chief minister Akhilesh Yadav said that the investors meet is meant to present the truth about the state’s progress across sectors. “Through our fast-paced approval system and a bureaucracy always inclined to help, we are confident that the state will shine. The perception you get while reading newspapers and watching news on television is not what UP is about,” he said.

Among those who pledged investments were LG (Rs 1,328 crore), Idea Cellular (Rs 550 crore), Toshiba Power (Rs 3,400 crore), ITC (Rs 1,450 crore), Reliance Jio (Rs 1,200 crore) and Welspun (Rs 600 crore). While LG wants to set up a manufacturing facility for electronic appliances and mobile phone at Greater Noida, Welspun plans to manufacture inverters, cables at Greater Noida.

Yadav added that while people in other cities claim to have Metro rail in just their capital cities, UP has plans to start operating Metro rail services in Meerut, Kanpur,Allahabad and Varanasi. “While we want to build 14 smart cities across the state, the mode of transport also needs to get smarter. Metro rail will serve as a medium of decongesting our roads and allowing smoother flow of traffic,” Yadav explained.

Apart from Varanasi, Uttar Pradesh government also willing to establish a Metro rail project in Ghaziabad. It has set a target of June 2016 for the beginning of the Delhi-Dilshad Garden-Ghaziabad route of the Metro rail.

Navneet Sehgal, principal secretary, information department, told reporters that the government wants to showcase UP as an investment destination. For instance, Sehgal said, HCL is investing in the information technology (IT) park being set up by the government in Lucknow. He added that many renewable energy projects are also lined up with Adani setting up a 250 MW solar project.

Commitment
* LG pledged Rs 1,328 crore, Idea Cellular Rs 550 crore, Toshiba Power Rs 3,400 crore, ITC Rs 1,450 crore, Reliance Jio Rs 1,200 crore and Welspun Rs 600 crore
* While LG wants to set up a manufacturing facility for electronic appliances and mobile phone at Greater Noida, Welspun plans to manufacture inverters, cables at Greater Noida

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