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UP inks over Rs 54,000cr business deals

The Times of India:  June, 2014

New Delhi: The UP government signed MoUs worth Rs 54,606 crore on Thursday, including a Rs 220-crore project for a personal rapid transit (pod taxi) system in Noida.

Twenty-three companies inked a pact with the UP government at its Investors' Conclave in Delhi, some promising to expand existing businesses, and others pledging to set up shop in the state over the coming years. Reliance Jio Infocomm Ltd also signed a 5000 crore MoU .

The Noida region was the biggest beneficiary of the meet. The Fortis group promised an investment of Rs 800 crore for 250-bed super speciality hospitals in Greater Noida, Lucknow and Kanpur, while River Engineering Pvt Ltd promised a Rs 330-crore investment in air taxi services - Vayu Mitra - in Noida. The pod car project has been proposed by the UK-based Ultra group. A government official said it would be implemented as a pilot project in Sector 18, connecting the Metro station to the malls. The project is awaiting approval and will take 18 months to implement from the date it gets the green light, the official added.

Among major IT companies, Samsung announced its decision to expand its business set-up in Noida, while chief secretary Alok Ranjan said Nasscom will permanently shift its headquarters to the city. Among others, Amity chairman emeritus Ashok Chauhan said the group will spend Rs 2,000 crore to set up a medical university in Greater Noida.

The west UP bounty continued through Thursday; managing director of Yashoda Hospital and Research Centre Ltd, Ghaziabad, PN Arora, signed an MOU with the state for investing about Rs 2,000 crore for setting up a medical city and hospitals in Noida, Greater Noida, Ghaziabad and Hapur districts. The group has also planned investments in the field of education.

UP government on Thursday also passed off as fresh MoUs a handful of projects that are already in implementation stage in UP.