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Greater Noida Authority signs MOUs worth Rs 40,000 crore ahead of Global Investors Summit

According to GNIDA, the builder department of the authority has signed Rs 16,106 crore investment MOUs, followed by the industries department

Greater Noida West (Representative image/Wikimedia Commons)

Greater Noida West (Representative image/Wikimedia Commons)

The Greater Noida Industrial Development Authority (GNIDA) has so far signed memorandums of understanding (MOUs) for an investment of Rs 40,000 crore in the city ahead of UP Global Investors Summit, which is scheduled to take place in February this year.

According to GNIDA, the builder department of the authority has signed Rs 16,106 crore investment MOUs, followed by the industries department.

The industries department has paved way for an investment of Rs 11,680 crore through 17 agreements, and several more industries have expressed their wish to invest in Greater Noida, the Authority noted.

The authority’s CEO Ritu Maheshwari, during a review meeting on January 3, directed officials to further increase the investment possibilities ahead of UP Global Investors Summit.
Maheshwari, who is also the CEO of Noida Authority, last month visited Singapore to draw investments for Noida and Greater Noida. She was part of a delegation led by Uttar Pradesh cabinet minister Swatantara Dev Singh that visited Singapore ahead of the summit.

The Authority noted that the commercial department of the GNIDA has signed agreements worth Rs 7,000 crore, while the IT and ITES department has entered into MOUs worth Rs 2,760 crore.

Similarly, the institutional department has signed MOUs worth Rs 1,432 crore, and agreements worth Rs 70 crore were inked by Integrated Industrial Township Greater Noida Limited (IITGNL).

The CEO has also directed GNIDA officials to make arrangements to provide land to these investors. She has sought to increase the number of investors in Greater Noida with the help of various schemes and projects.

Currently, the GNIDA has floated schemes for fuel stations and several commercial, industrial, institutional and building segments.

The CEO said a scheme for setting up data centres will also be launched soon.

The Uttar Pradesh government has been pushing for the setting up of data centres and has approved a plan for four such facilities in the state for Rs 15,950 crore. These are aimed at creating 4,000 direct or indirect jobs.

The state’s data centre policy offers various incentives such as capital subsidy, interest subvention, and stamp duty exemption along with non-financial and energy-related facilities.

In October, Chief Minister Yogi Adityanath launched the Yotta D1 data centre in Greater Noida. It has been developed by Yotta Infrastructure, an arm of the Hiranandani Group.

Moneycontrol News
first published: Jan 3, 2023 09:48 pm