At least 29 companies to launch Rs 500 cr investment projects in UP

01 May 2022

At least 29 companies would be launching investment projects worth Rs 500 crore or more each during the third groundbreaking ceremony slated to take place on June 3 in Uttar Pradesh.

The list of investors comprises Hiranandani Group, Berger Paints, SLMG Beverages Private Limited, STT Global Data Centre India Private Limited, Dalmia Cement, and ACC Cement, among others.

Among these big investors, Hiranandani Group would be infusing Rs 9134 crore in a data centre at Noida, while Sify Technologies data centre is coming up with a Rs 2692 crore investment also at Noida.

In all, the third groundbreaking ceremony will see the launch of 1406 projects of 1,318 firms worth over 80,000 crores which is more than the target of Rs 75,000 crore set to celebrate the 75th year of Independence, UP industries minister Nand Gopal Gupta Nandi told the media.

On the occasion, PM Narendra Modi would be the chief guest.

Nandi convened a follow-up meeting of senior UP officials to fine-tune the preparations for the ground-breaking ceremony on Saturday.

According to the official sources, the state industries and infrastructure development department have grouped the investment projects into five classifications, the last cut-off being Rs 3 crore. As many as 642 companies are developing their projects worth Rs 1,018 crore in this category.

As many as 109 companies are infusing between Rs 100 and 500 crores. The total investment in this category is Rs 24,337 crore.

The third category includes 292 companies that have committed projects with a value varying between Rs 10 crore and Rs 100 crore. The total value of these committed projects is Rs 9,610 crore. Likewise, projects worth less than Rs 10 crore and over Rs 3 crore form the fourth category. In this group, 334 firms are investing Rs 1747 crore.

Nandi said that the whole ceremony would be webcast across 75 districts and directed officials to make sufficient arrangements for the same.

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Also read: Andhra Pradesh clears investment proposals worth Rs 16k cr

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