UP to launch industrial, infra projects worth Rs 500 billion next month

Source: Business Standard, Nov 29, 2018

Lucknow: Uttar Pradesh government will launch industrial and infrastructure projects totalling Rs 500 billion across different sectors next month.

These projects are part of the Rs 4.68 trillion worth of memorandum of understanding (MoU) signed with public and private sector companies during the ‘UP Investors Summit’ here on 21-22 February, 2018.

On July 29, Prime Minister Narendra Modi had laid foundation of projects worth Rs 600 billion. Inaugurating the Summit, Modi had also exhorted UP and Maharashtra to compete for emerging as the country’s first trillion dollar economies.

Chief minister Yogi Adityanath, who has been busy in campaigning in poll bound states of Madhya Pradesh and Chhattisgarh over the past few week, on Tuesday night reviewed the progress of the projects lined up for the second ground breaking ceremony slated for the second week of December in Lucknow.

According to sources, the CM expressed displeasure over slow pace of follow-up for these projects. Earlier, the state government had announced it would lay the foundation of projects worth Rs one trillion in December, however, now it would be near impossible to achieve this target due to pending land acquisition and other clearances hurdles.

Adityanath has directed senior officials to ensure that the preliminary grounds works are completed and projects of Rs 500 billion are launched in December. Another ground breaking ceremony would be organised in February 2019 to launch projects totalling Rs 500 billion.

Modi would be invited for these ground breaking ceremonies as well, which would provide a platform to the ruling Bharatiya Janata party (BJP) government amplify its self acclaimed pro-industry, development and employment agenda before the crucial 2019 Lok Sabha poll against the spectre of a joint opposition and anti-incumbency.

On 2-3 November, the state industrial development department had hosted a round table with the investors and industrialists, whose projects totalling 158 are lined up for the coming ground breaking ceremonies.

On July 14, Modi had also laid the foundation of 341 km proposed Purvanchal Expressway estimated to cost Rs 230 billion.

Besides, the state is pursuing three other mega infrastructure projects viz. Bundelkhand Defence Corridor, Bundelkhand Expressway and Jewar International Airport. While, Defence Corridor is touted to get investment of almost Rs 500 billion, the 289 km Bundelkhand Expressway is estimated to cost Rs 100 billion.

The government has already identified over 5,000 hectares for allotment to private companies for the Defence Corridor. The Corridor would span 6 nodes at Aligarh, Agra, Jhansi, Kanpur, Lucknow and Chitrakoot districts. India is the world’s largest military hardware importer and among top 5 military spenders. Now the country wants to develop its indigenous defence industry for saving foreign exchange and national security matrix.

Jewar Airport project is expected to cost Rs 160 billion and the process of land acquisition is to begin soon.

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