+
Prayagraj to witness Rs.80 billion investment in next 7 months
ECONOMY & POLICY

Prayagraj to witness Rs.80 billion investment in next 7 months

The agreements made during the Global Investors Summit-2023, which took place from February 10 to 12 in Lucknow, are now prepared to jumpstart business operations in Prayagraj.

With investments totaling around 80.30 billion, 91 enterprises that signed agreements at the Investors' Summit are now prepared for the groundbreaking ceremony here. Official ground-breaking ceremonies for these companies' factories and units are planned for after Diwali, district officials were informed.

By the end of the year, these enterprises' factories and setups will be completely operational, providing 13,217 residents with work opportunities. The industries department had already begun planning for the groundbreaking ceremony for the factories and units that these companies had established in Prayagraj, the officials added.

?The work of implementing the agreements reached at the Investors? Summit in February is progressing rapidly. After the agreement, business worth more than ?80 billion is set to start in just next seven months and the ground-breaking ceremony of their plants and units will take place soon,? said Sharad Tandon, deputy commissioner (industries), Prayagraj.

The unique aspect is that out of the 80.30 billion in investments, almost a quarter, or 23.54 billion, will be made in the housing sector. A groundbreaking ceremony for these projects will take place soon. Following that, $20.53 billion is invested in infrastructure and industrial growth. According to officials, investments totaling $10.75 billion in alternative energy and $6 billion in transportation are expected to provide the Prayagraj region's business climate a boost unlike anything it has ever experienced.

The agreements made during the Global Investors Summit-2023, which took place from February 10 to 12 in Lucknow, are now prepared to jumpstart business operations in Prayagraj. With investments totaling around 80.30 billion, 91 enterprises that signed agreements at the Investors' Summit are now prepared for the groundbreaking ceremony here. Official ground-breaking ceremonies for these companies' factories and units are planned for after Diwali, district officials were informed. By the end of the year, these enterprises' factories and setups will be completely operational, providing 13,217 residents with work opportunities. The industries department had already begun planning for the groundbreaking ceremony for the factories and units that these companies had established in Prayagraj, the officials added. ?The work of implementing the agreements reached at the Investors? Summit in February is progressing rapidly. After the agreement, business worth more than ?80 billion is set to start in just next seven months and the ground-breaking ceremony of their plants and units will take place soon,? said Sharad Tandon, deputy commissioner (industries), Prayagraj. The unique aspect is that out of the 80.30 billion in investments, almost a quarter, or 23.54 billion, will be made in the housing sector. A groundbreaking ceremony for these projects will take place soon. Following that, $20.53 billion is invested in infrastructure and industrial growth. According to officials, investments totaling $10.75 billion in alternative energy and $6 billion in transportation are expected to provide the Prayagraj region's business climate a boost unlike anything it has ever experienced.

Next Story
Building Material

UltraTech’s Limestone Mine Gets India’s First-Ever 7-Star Rating

UltraTech Cement, India’s largest producer of cement and Ready-Mix Concrete (RMC), has received top honours for sustainable mining practices. Thirteen of the company’s limestone mines were awarded star ratings by the Indian Bureau of Mines (IBM), Ministry of Mines, for FY 2023–24 during a ceremony held in Jaipur, Rajasthan. Among these, the Naokari Limestone Mine—part of UltraTech’s Awarpur Cement Works in Chandrapur, Maharashtra—was awarded India’s first-ever 7-star rating for a limestone mine, in recognition of exceptional performance in ‘Green Mining’. The remain..

Next Story
Infrastructure Urban

Sieger Parking Enters Mumbai Market, Expands West India Presence

Sieger Parking, a Coimbatore-headquartered specialist in automated and multi-level car parking systems, has announced its entry into Western India with the launch of a regional office in Mumbai. This move marks a key milestone in the company’s pan-India growth strategy and its commitment to delivering technology-driven, space-efficient parking solutions across urban India. The Mumbai office will serve as the regional headquarters for Maharashtra and neighbouring states, supporting end-to-end operations with on-ground sales, project management, and service teams. The aim is to fast-track..

Next Story
Resources

IGBC Green Kochi Conclave 2025 Champions Culture and Climate Action

The Indian Green Building Council (IGBC), part of CII, hosted the Green Kochi Conclave 2025 on 4 July at Hotel Holiday Inn, Kochi, under the theme “Tharavadu to Tomorrow: Weaving Kerala’s Heritage into a Sustainable Built Environment.” The event brought together policymakers, architects, developers, and thought leaders to discuss Kerala’s progress in blending cultural heritage with sustainable design.  Kerala is emerging as a frontrunner in climate-resilient development, thanks to passive design strategies, rainwater harvesting, cool roof initiatives, and the widespread adopt..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?