The Uttar Pradesh government has expedited the process of providing land to the investors who have signed memorandums of understanding (MoUs) with the during the recent Global Investors Summit.
The state government will soon initiate the process of auctioning 635 hectares of land for the industrial units.
The land, equaling nearly 888 Olympic soccer stadiums, has been identified in the urban pockets for allotment to investors. According to sources, the land has been arranged for urban-centric projects, including hotels, schools, group housing, hospitals, Nursing homes, CNG filling stations, Logistics and shopping centres.
With the Yogi Adityanath government 2.0 netting Investment proposals of more than Rs 33.50 lakh crore from over 19,000 investors at the three-day GIS held on February 10-12, the state has kicked off a process to materialise these projects at the earliest. To supplement the menu of industrial land, the state will not only allot fresh land but also utilise the expansive plots of defunct government-owned industrial units across 75 districts of UP.
According to an estimate, the government is even mulling to utilise the land of defunct textile mills — estimated at 1,500 acres — for fresh allotment. For this purpose, the state will first settle all outstanding dues of these units before formally acquiring land for re-allotment.