NOIDA: The Greater Noida Authority has implemented 84% of its Rs 60,000 crore investment target set by the UP government, which will be announced at the upcoming ground-breaking ceremony this year.
Officials said of the 175 MoUs signed with various industries, developers and entrepreneurs, 148 MoUs of worth Rs 50,419 crore have materialised on the ground, implying that they were allotted land.
“Of the 148 MoUs, 45 are from builders, 32 from commercial entities, 36 from industries, 26 from institutional sectors, and 9 from IT/ITES,” said a senior official, adding these investments are expected to generate over 70,000 jobs.
The Authority has signed pacts with the units that have been allotted industrial plots under the latest schemes but for various reasons, construction of the projects could not proceed, also those units with which MOUs could not be signed earlier.
Among the builders, Country Group to invest Rs 2,000 crore, Eldeco and Iris to invest Rs 1,000 crore, each, and Purvanchal to invest Rs 800 crore.
In the field of industry, Dixon to invest Rs 500 crore on Ecotech 8 project and Hair to invest Rs 640 crore on expansion of project. Addverb, a global robotics and automation company, promised an investment of Rs 500 crores on a 15 acres land project. Cheng Feng have committed funds worth Rs 340 crore.
Amid the IT sector, Advance Compusoft has ploughed Rs 1,000 crore on the IT and commercial park on 25 acres of land in Techzone 4. Bhutani Grandthum too has assured an investment of Rs 1000 crore on 25 acres of allotted land in Techzone 4. Migsun, an IT project in Techzone, also to invest Rs 500 crore.
Under the institutional category, Yatharth’s hospital is willing to invest Rs 250 crore and construct a 250-bed hospital in Greater Noida West.
In the commercial domain, Boulevard Walk, a mixed-use development by Home and Soul, to offer pre-leased retail shops, hotel apartments, and other spaces in Greater Noida West. They have affirmed an investment of Rs 1,000 crore on the 5 acres of allotted land.
According to officials, the Authority is focusing on drawing investments from IT and data centres, besides educational institutions. A Singapore-based company, ST Telemedia, has been allocated 10 acres of land in Knowledge Park 5. They are eager to invest Rs 1,500 crore on a data centre project.
Officials added negotiations are in progress with companies ready to invest under the state’s FDI policy.
