Ahead of the Global Investors Summit 2023, to be held in Lucknow next month, Uttar Pradesh government held its fifth roadshow in Hyderabad in which 19 memorandums of understanding (MoUs) worth Rs 25,000 crore were signed. The 19 projects will create employment opportunities, directly or indirectly, for 32,000 youths in Uttar Pradesh.
At the event, led by UP deputy chief minister Brajesh Pathak, many other investors expressed their desire to invest thousands of crores. These investors will finalise their investment plans during GIS 2023.
The UP team also included Cabinet minister Baby Rani Maurya, ministers of state Arun Kumar Saxena, Dayashankar Mishra and advisor to chief minister, GN Singh.
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Deputy CM Pathak said: “UP has an old relation with Hyderabad. In 1916, the Nizam had given one lakh rupees for the establishment of BHU. That’s why we have come here to maintain this relationship of both the states and invite investors.”
Prior to the roadshow, business to government meetings were held throughout the day during which more than two dozen investors from Hyderabad gathered information from the visiting delegation about investment opportunities in UP as well as exemptions available under the new policies of chief minister Yogi Adityanath.
Finally, 19 MoUs were signed with the investors of which 12 were worth Rs 100 crore or more whereas, six were worth Rs 1,000 crore or more. The highest value deal signed on the occasion was with Megha Engineering & Infrastructure, worth Rs 15,500 crore.
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Megha Engineering plans to invest Rs 15,500 crore in 4 categories. The first investment of Rs 10,000 crore will be in the field of infrastructure while Rs 2,000 crore will be spent on developing a complete pharma city. Apart from this, the company will invest Rs 1500 crore in the field of medical infrastructure, under which medical equipment will be manufactured and Rs 2,000 crore in the field of EV manufacturing. With this investment, more than 10,000 direct and indirect employment opportunities will be created.