590 applications okayed for ₹704 cr investment
LUCKNOW: Fast-tracking state government’s industrial plan amid the ongoing lockdown, Uttar Pradesh State Industrial Development Authority (UPSIDA) has processed 590 online applications of 88 companies that will generate investment of Rs 704.51 crore.
Giving this information on Saturday, UP industrial development minister Satish Mahana said for it the state government had allotted 46.94 acres of land. The step will also create jobs for around 9000 people, added the minister.
In addition, building plan approvals for 22 industrial units, extension of time for 65 industrial projects, execution of lease deed for 136 units, mortgage services for 36 Industrial units and requests for other services were also given nod.
Informing about the projects approved in the lockdown period, the minister said projects of DS Group of Industries, MAPEI of Italy, Guru Nanak Enterprises, Krishna Organics and Maurya Moulds among others had been approved.
These projects will bring foreign currency investment also as DS Group is setting up food processing industry with foreign collaboration and MPEI, an Italy based company, is setting up industrial unit for manufacturing adhesives and chemicals.
The state government has approved industrial activity across the state, including red zones.
UPSIDA is also providing services for setting up new industrial units and speedy implementation of earlier industrial projects online to ensure lockdown protocols of social distancing and restricted movement to check spread of Covid-19 pandemic.
Earlier this week, Mahana said the state was working on a multi-pronged strategy to turn the Covid-19 adversity into an opportunity to boost industrial growth.
“To attract foreign companies looking to shift their manufacturing base from China to India, more specifically to Uttar Pradesh, the UP government will offer them their own industrial townships where their people will live with all the facilities,” Mahana had said. He had added that the state government had identified 100 to 300 acres of land in different parts of the state for such industrial townships.