Manufacturing Sector Picks Up In UP, 98 Investment Proposals Worth Rs 13,408.19 Crore Received In Last Four Years
Lucknow, June 18 (TNA) Uttar Pradesh, a state whose name was enough to scare industrialists away only four years ago, has changed rapidly under the leadership of Chief Minister Yogi Adityanath, officials said on Friday.
All these sectors, manufacturing is the most preferred among them and is booming. The receipt of 98 investment proposals worth Rs 13,408.19 crore (over Rs 134 billion) in manufacturing sector during the last three and a half years bears testimony to this.
According to the statistics released by the Department of Industrial Development, the 98 investment proposals worth Rs 13,408.19 crore in the manufacturing sector include ten proposals worth Rs 4,250 crore (Rs 402 billion)from foreign investors as well as 88 proposals from domestic companies for setting up large manufacturing units in the state that will provide employment to more than 22,028 people.
The Yogi Government has provided land to 66 industrialists out of 88 for establishing their manufacturing units. Most of these industrialists have completed the construction of their units and started production as well. Apart from this, 26 major industrialists are moving ahead with their plans to set up firms.
According to officials, Covestro IP is setting up a plastic manufacturing unit in Gautam Budh Nagar (Noida) at the cost of Rs 800 crore. Similarly, UltraTech Company is setting up a cement factory in Prayagraj at the cost of Rs 600 crore. Sparsh Industries Private Limited and Rimjhim Ispat have invested Rs 600 crore and Rs 550 crore respectively in Kanpur Dehat.
Furthermore, DCM Shriram is setting up a sugar mill in Hardoi at the cost of Rs 361 crore. Kent RO Systems Ltd has invested Rs 300 crore in Gautam Budh Nagar whereas PTC Industries Ltd has invested Rs 205 crore in Lucknow.
Similarly, MM Forgings Pvt Ltd has invested Rs 150 crore in Barabanki and Password Papers has invested Rs 351 crore in Meerut. Silverstone is setting up a paper mill in Muzaffarnagar at the cost of Rs 180 crore. All these companies have also started production. Besides, Kanodia Group is investing Rs 1200 crore in Amethi and JK Cement Limited Rs 650 crore in Aligarh to set up a cement factory.