UP govt signs MoUs worth Rs 185.90 bn with UAE-based companies

05 Jan 2023 CW Team

Uttar Pradesh government signed a Memorandum of Understandings (MoUs) with six UAE-based companies worth Rs 185.90 billion with six companies of the United Arab Emirates (UAE) ahead of the Global Investors Summit to be held in Lucknow in February, according to the statement released by UP government.

According to the statement, this agreement will help in the creation of over 20,000 new employment opportunities.

The two companies, Astha Green Energy Venture and Shree Siddharth Infratech and Services will invest in renewable energy worth Rs 44.80 billion and Rs 8 billion respectively to create 2,560 and 4,800 new jobs.

Meanwhile, another two companies, Sharaf Group and Hindustan Port will invest in the Logistics Park sector. The investment will be Rs 13 billion and Rs 2.10 billion respectively in the state, providing 1,500 and 1,000 jobs, the statement reads.

Lulu Group will invest Rs 45 billion in retail and food processing sectors, creating 10,000 jobs. While Sobha Realty will invest Rs 1 billion in education and CSR. This will provide employment to 250 people. Investment proposals worth over Rs 7.12 trillion were received ahead of GIS 2023, according to the statement.

Ahead of the Global Investors Summit, which will take place in February, eight teams of the Uttar Pradesh government visited 16 countries, receiving investment proposals totalling more than Rs 7.12 trillion. The largest share of investment proposals worth Rs 4 trillion has been received from the United Kingdom (UK) and the United States of America (USA)

Also Read
Nuclear power stations will be built by PSUs: Jitendra Singh
RailTel join hands with a tech company to monetise Wi-Fi project

Infrastructure Energy

19 Sep 2025

J&K CM Rules Out Power Privatisation, Focuses on Sector Reform

Jammu and Kashmir Chief Minister Omar Abdullah has dismissed speculation regarding privatisation of electricity in the Union Territory, emphasising that his priority is to strengthen and reform the power sector.“We are not discussing privatisation. By reducing losses, improving billing efficiency, and enhancing revenue, there will be no need for it. My vision is to strengthen and reform the power sector in J&K,” Abdullah stated.He addressed the gathering at the 58th Engineers’ Day at SKICC on Monday evening, an event honouring Bharat Ratna Sir M Visvesvaraya for his pioneering contri..

Mumbai’s Sassoon Dock to Get Tech-Driven Modernisation with Finland

The Maharashtra government, in collaboration with Finland, will modernise Mumbai’s historic Sassoon Dock using advanced technology, state minister Nitesh Rane announced on Wednesday.Rane met a delegation of Finnish officials and representatives of Finnish companies at the dock to discuss strategic plans for upgrading the facility in south Mumbai, according to an official statement.Built in the 19th century, Sassoon Dock is one of Mumbai’s oldest and busiest fishing harbours. Operations currently exceed its original capacity, raising concerns over hygiene, odour, fish handling standards, an..

Agarwal Industrial Wins Rs 3.3 Billion IOCL Bitumen Tender

Agarwal Industrial Corporation rose 3.84 per cent to Rs 945.65 after announcing it had secured a prestigious tender from Indian Oil Corporation (IOCL) worth Rs 3.3 billion.In a regulatory filing during market hours, the company confirmed it had won the tender to supply Bulk Bitumen (VG-30 and VG-40 grades) to IOCL’s Kakinada locations.The firm quantity under the award totals around 60,500 tonnes across 11 parcels, while the optional quantity is approximately 33,000 tonnes across six parcels. This brings the total awarded quantity to roughly 93,500 tonnes. At current market prices, the firm o..