UP Investor Summit | Gautam Budh Nagar inks investment proposals worth over Rs 2.76 lakh crore

Greater Noida West (Representative image/Wikimedia Commons)

With the Uttar Pradesh Global Investors Summit kicking off on February 10, Gautam Budh Nagar is eying big investments in the coming years in the district as several domestic and international companies have evinced interest in investing in the region.

Ahead of the summit, the district has received investment proposals worth more than Rs 2.76 lakh crore in different sectors, officials said.

According to officials, the big firms that have shown investment interest in the region include M3M Group, Ikea, Lulu group, Godrej and Adani group.

550 MoUs

Gautam Budh Nagar district comprises three authorities — Noida Authority, Greater Noida Industrial Development Authority (GNIDA), and the Yamuna Expressway Industrial Development Authority (YEIDA).

An official said that cumulatively, the three authorities have signed over 550 MoUs (memoranda of understanding) for investments worth Rs 2.76 lakh crore.

“The Noida Authority has finalised investment proposals of Rs 88,700 crore and the Greater Noida Authority has signed MOUs worth Rs 88,000 crore. YEIDA has finalised investment proposals of over Rs 1 lakh crore,” the official said.

A Noida Authority official said that around 18 companies have signed MoUs for investments of above Rs 1,000 crore each, while more than 13 firms have agreed to invest over Rs 500 crore each in Noida.

These investments will be made in different sectors, such as the real estate, retail, industrial and institutional sectors, among others.

The Adani group has also shown interest in developing an industrial and warehousing complex near Jewar Airport in the YEIDA region. For this purpose, the group has sought 700 acres of land, an official said.

A Noida Authority official said that M3M India Private Limited will invest Rs 7,500 crore, while Ikea (INGKA group) has pledged an investment of Rs 4,300 crore in the region.

Many pledges

Other major investors in the real estate and retail sectors that have signed MoUs for investments in Noida include Godrej Properties Limited (Rs 2,400 crore), Clearlake Private Limited (Rs 4,000 crore), Theme Country Private Limited (Rs 3,200 crore), Fairfox Infra Private Limited (Rs 2,000 crore), Roseberry Estate LLP (Rs 2,000 crore), Themecounty Private Limited (Rs 2,000 crore), Mahagun Infratech Private Limited (Rs 1,800 crore), and Canciller Consultancy (Rs 1,200 crore), the official cited earlier said.

Officials said that the Lulu group is likely to invest Rs 2,500 crore in Noida to open a mall and a hotel there.

In 2022, many big names invested in the twin cities of Noida and Greater Noida. The Tatas, Godrej, and Ikea set up shop, while Lulu signed an MoU with the Uttar Pradesh government to set up six shopping malls and one hotel in the state.

These malls and hypermarkets are expected to come up in Noida, Varanasi, Gorakhpur, Ayodhya, Kanpur, and Prayagraj, with a total investment of Rs 4,500 crore. The shopping mall project in Sector 108, Noida, will also have a five-star hotel, officials said.

Huge land parcels available

They added that the Noida Authority will showcase the Dadri-Noida-Ghaziabad Investment Region (DNGIR) as a major investment hub at the UP Global Investors Summit, as it can be a good option for companies requiring huge land parcels.

A senior Noida Authority official said that the Adani Group is also likely to be given 200 acres of land in DNGIR to set up a warehouse facility. He said that in the next five years, over 1,000 industrial units are set to become operational in DNGIR.

Ritu Maheshwari, who is the CEO of the Noida Authority and the GNIDA, had in December visited Singapore to draw investments for Noida and Greater Noida ahead of the investor summit. She was part of a delegation led by Uttar Pradesh cabinet minister Swatantara Dev Singh that visited Singapore ahead of the summit.