UP to acquire 760 hectares for Japan and South Korea cities in Noida
AVIATION & AIRPORTS

UP to acquire 760 hectares for Japan and South Korea cities in Noida

On May 22, 2024, Yogi Adityanath, Uttar Pradesh Chief Minister, addressed a campaign meeting for the Lok Sabha elections at Mariahu, in Jaunpur.

The Uttar Pradesh government aims to acquire nearly 760 hectares of land to develop exclusive Japanese and South Korean industrial enclaves in Noida.

The nodal agency, Yamuna Expressway Industrial Development Authority (YEIDA), will acquire land in Gautam Buddha Nagar district for the proposed Japanese and South Korean industrial cities.

Additionally, YEIDA plans to invest more than Rs 25 billion to develop the twin Japanese and South Korean cities, which will span 395 hectares and 365 hectares, respectively.

A senior UP government official explained that these hubs are intended to attract manufacturers from Japan and South Korea to set up units in Uttar Pradesh to serve both domestic and global markets.

The proposal to develop these cities was introduced during the UP Global Investors Summit (GIS) 2023 after discussions with investors from Japan and South Korea.

The Yogi Adityanath government has already received a positive response from investors.

The official noted that since the two mega industrial townships will be located near the upcoming Jewar International Airport, it is expected to attract substantial foreign investments, especially in electronics and information technology (IT).

Previously, YEIDA Chief Executive Officer (CEO) Aun Vir Singh mentioned that the cities would support the manufacturing of electronic products, including artificial intelligence (AI) equipment, microchips, and semiconductors, among others.

The UP Foreign Direct Investment (FDI) policy, seamless connectivity, and growth potential in the Noida-NCR region are also drawing companies to commit investments in the state.

Furthermore, the authority is planning to acquire about 6,000 hectares along the Yamuna Expressway for development near the international airport, with YEIDA expected to spend Rs 140 billion on land acquisition over the next two years.

On May 22, 2024, Yogi Adityanath, Uttar Pradesh Chief Minister, addressed a campaign meeting for the Lok Sabha elections at Mariahu, in Jaunpur. The Uttar Pradesh government aims to acquire nearly 760 hectares of land to develop exclusive Japanese and South Korean industrial enclaves in Noida. The nodal agency, Yamuna Expressway Industrial Development Authority (YEIDA), will acquire land in Gautam Buddha Nagar district for the proposed Japanese and South Korean industrial cities. Additionally, YEIDA plans to invest more than Rs 25 billion to develop the twin Japanese and South Korean cities, which will span 395 hectares and 365 hectares, respectively. A senior UP government official explained that these hubs are intended to attract manufacturers from Japan and South Korea to set up units in Uttar Pradesh to serve both domestic and global markets. The proposal to develop these cities was introduced during the UP Global Investors Summit (GIS) 2023 after discussions with investors from Japan and South Korea. The Yogi Adityanath government has already received a positive response from investors. The official noted that since the two mega industrial townships will be located near the upcoming Jewar International Airport, it is expected to attract substantial foreign investments, especially in electronics and information technology (IT). Previously, YEIDA Chief Executive Officer (CEO) Aun Vir Singh mentioned that the cities would support the manufacturing of electronic products, including artificial intelligence (AI) equipment, microchips, and semiconductors, among others. The UP Foreign Direct Investment (FDI) policy, seamless connectivity, and growth potential in the Noida-NCR region are also drawing companies to commit investments in the state. Furthermore, the authority is planning to acquire about 6,000 hectares along the Yamuna Expressway for development near the international airport, with YEIDA expected to spend Rs 140 billion on land acquisition over the next two years.

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