The majority of the ₹1 lakh cr initiatives implemented in Lucknow go to GB Nagar
Following the unveiling of over ₹10 lakh crore worth of projects in Uttar Pradesh on Monday at the fourth groundbreaking ceremony in Lucknow, the Noida authority announced that ₹1,80,000 crore worth of projects, including manufacturing, IT-enabled units, and real estate projects, will be developed in Gautam Budh Nagar.
Officials state that the district received projects worth ₹1,80,000 crore in total, of which ₹75,000 crore belongs to Noida authority, ₹60,000 crore to Greater Noida authority, and ₹45,000 crore to Yamuna Expressway Industrial Development Authority.
Work on these units in the Yamuna Expressway, Noida, and Greater Noida sectors has begun, according to authority officials, who also said that the authority has begun realizing the investment that entrepreneurs committed during the UP Investors Summit in 2023.
In the next three to five years, 302 units will be built in Gautam Budh Nagar, generating 352,993 employment in the district, according to authorities.
District authorities hosted a reception for investors on Monday in Noida’s Sector 6 Indira Gandhi Kala Kendra in conjunction with the groundbreaking ceremony in Lucknow. Dr. Mahesh Sharma, a former Union minister and member of parliament from Gautam Budh Nagar, Sanjay Kumar Khatri, the additional chief executive officer of the Noida authority, and Manish Kumar Verma, the district magistrate of Gautam Budh Nagar, hosted the event.
On Monday, ₹1 lakh crore worth of memorandums of understanding were signed by 302 investors, along with Sharma and representatives from the authority.
According to the Uttar Pradesh government, Prime Minister Modi and Chief Minister Yogi Adityanath laid the groundwork for 14,000 projects worth ₹10 lakh crore, which is expected to generate 3.35 million employment in the various cities.
We take pride in the fact that Noida is the primary beneficiary of the ₹10 lakh crore initiatives. According to Sharma, both local and foreign investors are increasingly choosing to invest in Noida, Greater Noida, and the Yamuna Expressway area.
At the groundbreaking event, 302 projects totaling ₹75,310 crore were invested in, out of the objective of ₹90,000 crore in Noida. Yeida received ₹45,000 crore in investment, while the Greater Noida government met its ₹60,000 crore investment goal.
The CEOs of the Noida and Greater Noida authorities, Yeida, and Arun Vir Singh, as well as other officials, attended the groundbreaking event in Lucknow.
“Work has begun on the projects that are a part of the groundbreaking ceremony. In order to provide additional land to new investors, we will introduce new schemes,” said Lokesh M.
“We have surpassed our goal of ₹45,000 crore, and an increasing number of new investors are expressing interest in investing in this area,” said Arun Vir Singh.
Global robotics and automation business Addverb has committed to investing ₹500 crore in Greater Noida, while Dixon and Hair would each spend ₹500 crore and ₹640 crore in their development projects, respectively.
After spending ₹1,000 crore, Advance Compusoft, a company in the IT industry, opened an IT and commercial park on 25 acres in Techzone 4. Techzone 4 would get ₹1000 crore from Bhutani Grandthum. Giant IT company Migsun plans to spend ₹500 crore in Techzone.
Under the institutional category, Yatharth Hospital plans to spend ₹250 crore to expand its operations and build a 250-bed facility in Greater Noida.
In Greater Noida West, Home and Soul’s mixed-use Boulevard Walk will have pre-leased retail stores, hotel rooms, and other spaces.
Along with data center firms, Vivo, Sify Infinite Spaces, and Jackson Ltd. will all establish a unit near the Yamuna Expressway. The groundbreaking event included the unveiling of the ₹10,000 crore Film City project, which spans 1000 acres.
