GDA Exceeds 84% of Rs 60,000 Crore Investment Goal

22 Jan 2024 CW Team

Officials revealed that out of the 175 Memoranda of Understandings (MoUs) inked with a diverse array of industries, developers, and entrepreneurs, a staggering 148 MoUs, amounting to Rs 50,419 crore, have materialized on the ground, indicating successful land allotments.

The breakdown of these achievements includes 45 MoUs from builders, 32 from commercial entities, 36 from industries, 26 from the institutional sector, and 9 from the IT/ITES sector. This surge in investments is anticipated to create over 70,000 job opportunities.

Among the notable builders contributing to this success are the Country Group with a substantial investment of Rs 2,000 crore, Eldeco and Iris each committing Rs 1,000 crore, and Purvanchal pledging Rs 800 crore.

In the industrial sector, Dixon is set to invest Rs 500 crore in the Ecotech 8 project, while Hair plans a Rs 640 crore expansion project. Addverb, a global robotics and automation company, is earmarking Rs 500 crores for a 15-acre land project, and Cheng Feng has committed funds worth Rs 340 crore.

The IT sector is witnessing robust investment commitments, with Advance Compusoft allocating Rs 1,000 crore for an IT and commercial park in Techzone 4. Bhutani Grandthum is also contributing Rs 1,000 crore on 25 acres of allotted land in Techzone 4, while Migsun, an IT project in Techzone, is set to invest Rs 500 crore.

Under the institutional category, Yatharth?s hospital is poised to invest Rs 250 crore to construct a 250-bed hospital in Greater Noida West.

In the commercial domain, Boulevard Walk, a mixed-use development by Home and Soul, is affirming a significant investment of Rs 1,000 crore on the 5 acres of allotted land in Greater Noida West, showcasing a commitment to transformative urban development.

Officials emphasized the Authority's strategic focus on attracting investments in IT and data centers, along with educational institutions. Notably, ST Telemedia, a Singapore-based company, has secured 10 acres of land in Knowledge Park 5 and is eager to invest Rs 1,500 crore in a cutting-edge data center project.

Additionally, officials disclosed that negotiations are currently underway with companies eager to invest under the state's FDI policy, further underlining the sustained momentum in Greater Noida's economic growth.

In a significant achievement, the Greater Noida Authority has successfully executed 84% of its ambitious Rs 60,000 crore investment target mandated by the Uttar Pradesh government. The momentous progress will be officially unveiled at the upcoming groundbreaking ceremony scheduled for later this year. Officials revealed that out of the 175 Memoranda of Understandings (MoUs) inked with a diverse array of industries, developers, and entrepreneurs, a staggering 148 MoUs, amounting to Rs 50,419 crore, have materialized on the ground, indicating successful land allotments. The breakdown of these achievements includes 45 MoUs from builders, 32 from commercial entities, 36 from industries, 26 from the institutional sector, and 9 from the IT/ITES sector. This surge in investments is anticipated to create over 70,000 job opportunities. Among the notable builders contributing to this success are the Country Group with a substantial investment of Rs 2,000 crore, Eldeco and Iris each committing Rs 1,000 crore, and Purvanchal pledging Rs 800 crore. In the industrial sector, Dixon is set to invest Rs 500 crore in the Ecotech 8 project, while Hair plans a Rs 640 crore expansion project. Addverb, a global robotics and automation company, is earmarking Rs 500 crores for a 15-acre land project, and Cheng Feng has committed funds worth Rs 340 crore. The IT sector is witnessing robust investment commitments, with Advance Compusoft allocating Rs 1,000 crore for an IT and commercial park in Techzone 4. Bhutani Grandthum is also contributing Rs 1,000 crore on 25 acres of allotted land in Techzone 4, while Migsun, an IT project in Techzone, is set to invest Rs 500 crore. Under the institutional category, Yatharth?s hospital is poised to invest Rs 250 crore to construct a 250-bed hospital in Greater Noida West. In the commercial domain, Boulevard Walk, a mixed-use development by Home and Soul, is affirming a significant investment of Rs 1,000 crore on the 5 acres of allotted land in Greater Noida West, showcasing a commitment to transformative urban development. Officials emphasized the Authority's strategic focus on attracting investments in IT and data centers, along with educational institutions. Notably, ST Telemedia, a Singapore-based company, has secured 10 acres of land in Knowledge Park 5 and is eager to invest Rs 1,500 crore in a cutting-edge data center project. Additionally, officials disclosed that negotiations are currently underway with companies eager to invest under the state's FDI policy, further underlining the sustained momentum in Greater Noida's economic growth.