Yamuna Expressway Authority to develop five industrial parks near Noida International Airport

Yamuna Expressway Authority to develop five industrial parks near Noida International Airport, acquire 600 acre land

The Yamuna Expressway Industrial Development Authority (YEIDA) will develop five industrial parks, including an EV Park, near upcoming Noida International Airport in Jewar and will also acquire around 600-acres of land for the purpose, officials aware of the matter said.

They said that the Authority has decided to set up these industrial parks in YEIDA Sector 10 along the Yamuna Expressway, which connects Greater Noida with historical cities of Mathura and Agra.

“The five industrial parks that are to come up near Noida International Airport include an electric vehicle park, plastic processing park, footwear park, handicrafts park and a transport hub. Nearly 600-acre agricultural land will be needed to develop these industrial parks in Sector 10 and the Uttar Pradesh state government has already directed the Gautam Budh Nagar administration to start the process of land acquisition,” a senior official of the Authority told Moneycontrol, requesting anonymity.

According to officials, in the masterplan, the Sector 10 has been earmarked for development of industrial parks and the entire sector will serve as an exclusive industrial hub located near Jewar airport or Noida International Airport.

The official quoted above said that the proximity of Sector 10 with the upcoming greenfield airport and quick access to Yamuna Expressway makes it a suitable hotspot for industries, manufacturing units and other industrial activities.

He said that the proposed EV Park, which is to be set up in Sector 10, is likely to have units of EV companies manufacturing electric vehicles, EV parts among others.

The official said that a notification authorising the Gautam Budh Nagar administration to expedite and complete the land acquisition process was also issued by the Uttar Pradesh government on February 4 this year.

In total, the Authority requires 600 acres of land for the development of Sector 10. The social impact assessment study has also been completed by the Gautam Buddha University.

Another official said that the objections and suggestions will be sought from the public under Section 15 of the Right to Fair Compensation and Transparency in Land Acquisition, Rehabilitation and Resettlement Act, 2013.

Official said that the administration is also sensitising the public not to purchase or sell the land notified for acquisition without the permission of the district magistrate. He said that after all formalities are completed as per the rules, the distribution of land compensation will commence and then acquire the land. The acquired land will be handed over to the Authority for the purpose.

“As soon as we get the land, we will start its allocation for industrial parks after developing required amenities. We are hopeful of completing the process in 2024 only,” a YEIDA official said.