LUCKNOW: Promising fresh investments in UP despite the bleak economic scenario, the state government said on Monday two of the four early bird projects approved by the Centre for the Delhi Mumbai Industrial Corridor have been granted to Uttar Pradesh. The two projects - one integrated industrial township at Greater Noida and a multi-modal logistics hub at Dadri - are expected to bring in more than Rs 25,000 crore as investments into the state.
Making the announcement about the development, chief minister Akhilesh government said the UPSIDC would allot 600 acres of land for the integrated industrial township in the first phase. In the second phase, an additional quota of 1,500 acres will be allotted to the project. At present, the state government has not earmarked land for the multi-nodal logistics hub at Dadri. However, arrangements are underway to assign land to this project as well.
About 7% of the DMIC project, which stretches between Dadri and the Jawaharlal Nehru Port Trust in Mumbai, passes through UP. In a rare show of largesse, the Centre has sanctioned a total of Rs 1008.95 crore for the two early bird projects; Rs 617.20 crore for the integrated industrial township at Greater Noida and Rs 391.75 crore for the multi-modal logistics hub at Dadri.
Through the early bird projects in the Dadri-Noida-Ghaziabad investment region under DMIC, the state government is expected to generate fresh employment for nearly 12 lakh persons. At a government function to give an update on the status of the government's development agenda for 2013-14, principal secretary, industries, SP Singh, also said the early bird projects would bring market-driven growth to UP.
For developing the integrated industrial township at Greater Noida, the Greater Noida Authority plans to form a Special Purpose Vehicle (SPV) with the Delhi Mumbai Industrial Corridor Development Corporation Ltd (DMICDCL). In the first phase, Uttar Pradesh State Industrial Development Corporation (UPSIDC) will give 600 acres of land and 1500 acres in the second phase as equity for this early bird project. According to the SPV guidelines, while the state government agencies will hold 51% stake in the holding company, 49% ill be held by DMICDCL. Among the main regions that will benefit from the industrial intervention include Surajpur, Sikandrabad and Chola Industrial areas of UPSIDC, which are also in alignment with the DMIC project in UP.
For the second project, the multi-modal transit hub at Boraki will also be developed by an SPV formed between the Greater Noida Authority and DMICDCL. In order to enable the smooth implementation of projects and signing of State Support Agreement under DMIC, the government also plans to amend the existing UP Industrial Development Act, 1976.
According to official data, about 15% of the DMIC influence area on either side of the Western Dedicated Freight Corridor (WDFC) and spreading across 36,068 sq km lies in Uttar Pradesh. With WDFC and the Eastern Dedicated Freight Corridor (EDFC) converging at Dadri, UP has the unique advantage of having access to both freight corridors.
On Monday, the government also announced its decision for an equity infusion of 5% into the EDFC project. According to Central government estimates, the EDFC project will bring about Rs 42,000 crore worth investments into UP. As a part of the project, the government has identified three integrated manufacturing zones on the alignment of EDFC. The proposed investment zones will be developed in the western districts of Agra and Aligarh, including Mathura, Hathras and Firozabad. Investment zones will also be developed at Auraiya and Kanpur, including Kanpur Dehat, Allahabad and Varanasi including Kaushambi and Sant Ravidas Nagar.
The government has also proposed six investment industrial zones along the EDFC. These have been proposed at Etawah-Auraiya Industrial Zone (6000 hectares), Pashchimanchal Industrial Zone (2000 hectares), Braj Industrial Zone (2000 hectares), Kanpur Logistics hub (6000 hectares), Allahabad-Naini-Bara Investment Zone (3000 hectares), Mughalsari-Varansai-Mirjapur Investment Zone (3000 hectares).
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