UP signs MoUs for logistics and defence worth Rs 164,000 million
DEFENSE

UP signs MoUs for logistics and defence worth Rs 164,000 million

As part of the UP government's efforts to strengthen the defence and aerospace sectors, the state has signed memorandums of understanding with North American firms worth nearly $2 billion.The agreements were signed with companies incorporated in the US and Canada, a senior government official revealed. US-based Mobility Infrastructure Group will invest Rs 8,2000 million in logistics projects, generating 100 new jobs. Canada-based QSTC will also pump in Rs 8,200 crore in defence and aerospace projects, creating 200 jobs.

The UP government hopes to showcase the state's military hardware manufacturing potential as well as the UP Defence Corridor at the UP Global Investors' Summit (GIS) 2023 in Lucknow. US, European, Russian, UK, Swedish, France, Israel, and German defence manufacturers are expected to attend.

Some of the companies in attendance will be Northrop Grumman, a US missile manufacturer; British manufacturer of missile launch systems and ammunition; Umarex, a German gun manufacturer; Carl Gustaf M4 rifles are manufactured by the Swedish company SAAB; Almaz-Antey in Russia, a major exporter of military hardware; Dassault Aviation, based in France, which manufactures Rafale aircraft; and Israel Weapon Industries (IWI), which is involved in the production of unmanned aerial systems.

In the near future, India plans to export defense manufacturing worth $5 billion. The Central Government's efforts to achieve this objective are seen in the two defense corridors in Uttar Pradesh and Tamil Nadu. There are six nodes in the UP Defense Corridor: Agra, Chitrakoot, Lucknow, Kanpur, Jhansi, and Aligarh The state currently owns 1,600 hectares of land that will be distributed to businesses.

In the meantime, the UP delegation to North America, led by cabinet minister Dharampal Singh and state legislative assembly speaker Satish Mahana, held 51 meetings between government and business in the United States and Canada. They received 27 letters of intent (LoIs) worth Rs 41,000 crore, and eight of those proposals were turned into Memoranda of Understanding (MoUs) and signed. The UP government is aiming for Rs 17 trillion in private investment at the mega summit.

As part of the UP government's efforts to strengthen the defence and aerospace sectors, the state has signed memorandums of understanding with North American firms worth nearly $2 billion.The agreements were signed with companies incorporated in the US and Canada, a senior government official revealed. US-based Mobility Infrastructure Group will invest Rs 8,2000 million in logistics projects, generating 100 new jobs. Canada-based QSTC will also pump in Rs 8,200 crore in defence and aerospace projects, creating 200 jobs. The UP government hopes to showcase the state's military hardware manufacturing potential as well as the UP Defence Corridor at the UP Global Investors' Summit (GIS) 2023 in Lucknow. US, European, Russian, UK, Swedish, France, Israel, and German defence manufacturers are expected to attend. Some of the companies in attendance will be Northrop Grumman, a US missile manufacturer; British manufacturer of missile launch systems and ammunition; Umarex, a German gun manufacturer; Carl Gustaf M4 rifles are manufactured by the Swedish company SAAB; Almaz-Antey in Russia, a major exporter of military hardware; Dassault Aviation, based in France, which manufactures Rafale aircraft; and Israel Weapon Industries (IWI), which is involved in the production of unmanned aerial systems. In the near future, India plans to export defense manufacturing worth $5 billion. The Central Government's efforts to achieve this objective are seen in the two defense corridors in Uttar Pradesh and Tamil Nadu. There are six nodes in the UP Defense Corridor: Agra, Chitrakoot, Lucknow, Kanpur, Jhansi, and Aligarh The state currently owns 1,600 hectares of land that will be distributed to businesses. In the meantime, the UP delegation to North America, led by cabinet minister Dharampal Singh and state legislative assembly speaker Satish Mahana, held 51 meetings between government and business in the United States and Canada. They received 27 letters of intent (LoIs) worth Rs 41,000 crore, and eight of those proposals were turned into Memoranda of Understanding (MoUs) and signed. The UP government is aiming for Rs 17 trillion in private investment at the mega summit.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code