This city of UP is lucky, Japanese company will invest more than Rs 100 crore in Uttar Pradesh, Read full story.
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Now foreign investment is not limited to just a few states. Even though Maharashtra, Karnataka, Gujarat dominate in foreign investment, but now other states have also started taking it seriously. In this list, the name of Uttar Pradesh is being taken with great importance. The confidence of foreign investors is also increasing in the state. In such a situation, a large group from Japan has planned to invest more than Rs 100 crore in UP.
Fuji Silvertech is a consortium of the Fuji Group that has designed and built the drainage infrastructure of the Narendra Modi Stadium in Ahmedabad. On the other hand, she has been involved in Delhi's Central Vista project. The company has done fire resistant underground ducting and precast work in the Central Vista project. The company said in its proposal that it has planned more than Rs 100 crore in UP.
The proposal was considered at a meeting chaired by Infrastructure and Industrial Development Commissioner Manoj Kumar Singh and the company will be allotted 20 acres of land in Sector-32 of the Yamuna Expressway Industrial Development Authority, which is along the Yamuna Expressway and near the upcoming Noida International Airport in Jewar, officials said.
The Yamuna Expressway Industrial Development Authority CEO, Dr. Arun Vir Singh, said the corporation must now submit its proposal to the state cabinet for approval. It is the first company to receive land at 75% concessional prices under the FDI program. In Sector-28, the authority gave Fortune-500 company Sify Infinite Space land to establish data centers. Singh added that Jackson Limited has been given land for the data center but will not benefit from the program because it is not a Fortune-500 firm.Companies will also be exempted from this.
"Under the new policy, we had received a total of three proposals, out of which two have been accepted. The proposal of Three Hands Infrastructure India Private Limited has been deferred as the company authority has not met the FDI norms. The case is under trial. The two companies, which have been given land for the data centre, will invest Rs 1,757 crore and employ 775 people.
Along with the land subsidy, the companies will get Rs 2 crore for R & D, Rs 10 crore for payment to workers, area-specific rebate in stamp duty and registration fee, 100 per cent rebate in electricity charges for five years and Rs 5,000 per person per month as training cost for a maximum of 500 people.
The state Uttar Pradesh ranked no 11th in terms of receiving FDI in the country. From October 2019 to December 2022, there was FDI of Rs 13.42 lakh crore across the country. The state UP's share is 0.7 per cent i. e. Rs 9,435 crore. Karnataka, Maharashtra and Gujarat are the top three states that have collectively received over 69 per cent FDI during the described period.
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