Under New Industrial Policy, UP Clears Projects Worth Rs 3,653.5 Crore

LUCKNOW || Investment-oriented policies announced by the Uttar Pradesh government and implementation of procedural reforms to encourage industry, enterprise and investment in the state seem to be finally getting a thumbs up. According to officials, in a short period of just two months – December 2019 and January 2020, Letters of Comfort (LoCs) have been issued or are being issued by Pradeshiya Industrial and Investment Corporation of U.P. (PICUP) to investment projects worth Rs. 3,653.51 crore under the new U.P. Industrial Investment and Employment Promotion Policy-2017.

To be set up in various sectors, and true to the objective of the state policy, 11,357 people are expected to get employment after the implementation of these industrial projects, an official said on Friday.

Principal Secretary, Infrastructure and Industrial Development, Alok Kumar said that the concerned departments of the state government are in regular touch with these investors for the implementation of their projects and progressive administrative and procedural reforms have been implemented to improve Ease of Doing Business in the State. “As a result, decisive and speedy action is possible on any issue concerned”, he added. Principal Secretary informed that the setting of projects has gained speed due to issuance of timely online approvals through the single-window portal, Nivesh Mitra.

Elaborating on the projects, Managing Director, PICUP Sujata Sharma informed that during the last 2 months, Letters-of-comfort (LoCs) had been issued under heavy industry category to 12 companies with an investment of Rs. 362.99 crore and were expected to generate jobs to the tune of 2,792 under the U.P. Industrial Investment and Employment Promotion Policy-2017.

These investors include Green Kashi BioEnergy, Nature Fresh Enterprises, Sunglass Works, Anjani Nandan Premier Package, SD International, BP Industries, Sadahari Shakti, Organic India, Flavicon Eco Boards, Uttam Sugar, Jai Ambe Vineet Plywood and Orient Bell Ltd., whereas, issuing of LoCs was under process to four companies with an investment of Rs. 241.52 crore and the possibility of creating 573 direct employment opportunities. These companies include SA Iron and Alloy, Dwarikesh Sugar Industries, Shri Balakishan Agarwal Glass Industries and Chandpur Enterprises.

In the Mega category under the current industrial policy of the year 2017, it took just two months to issue LoCs to six companies with an investment of Rs 2,360 crores and expected employment generation of 6,692, including Nikita Papers, Greenply Industries, JK Cement, Haldiram Snacks, Silverton Pulp & Papers and SLMG Beverages Pvt. Ltd., while the process of issuing LoCs is underway to three companies with an investment of Rs 689 crore and a potential of creating 1,300 jobs. These include KR Pulp and Papers, PepsiCo India Holding and Triveni Engineering and Industries.

Madhavkrishna Singhania, Special Executive of JK Cement said, “We would like to congratulate the Government of U.P. under the dynamic leadership of Yogi Aditya Nath, Chief Minister for bringing a paradigm shift in the way we do business in U.P. ….. The ease of doing business and the industrial ecosystem creations are also world-class”. He informed that JK Cement Limited had executed an MoU during UP Investors Summit in February 2018 and has completed the process of setting up the cement plant in Aligarh with the cost of Rs.325 Crores. The Commercial production and despatch of Cement will be effective from February 01, 2020.

Ahmed ElSheikh, President & CEO, PepsiCo India says, “The dismantling of the red tape and the enhancement of positive industrial ecosystem and ease of doing business parameters has been a major encouragement for us under the guidance of Yogi Aditya Nath for his support“.

He further said that PepsiCo India was setting up its greenfield snacks manufacturing plant in Uttar Pradesh. As part of this project, PepsiCo India would expand its backward integration with local farmers and help bring agricultural best practices to enable socio-economic growth for potato farmers in the state. To enable its supply chain, the company will also set up cold storage.

The process of providing facilities to investment projects has been expedited significantly under the policies announced earlier in the years 2003 and 2012 also. According to information received from PICUP, under the Infrastructure and Industrial Investment Policy-2012, four companies of the mega category, viz. Shree Cement Ltd., RCCPL Pvt. Ltd., Varun Beverages and Paswara Papers Ltd. have been provided with an incentive amount of Rs. 326.27 crores in the last 2 months.

Similarly, under the Industrial Investment Promotion Scheme-2003, an incentive amount of Rs. 56.60 crore was disbursed to five companies in interest-free loan scheme, while an incentive amount of Rs. 34.23 crore has been disbursed to nine companies during the last two months in the interest-free loan scheme under the Infrastructure and Industrial Investment Policy-2012.

Related posts

Leave a Reply

*