In a big achievement for Uttar Pradesh Chief Minister Yogi Adityanath, the state government has signed memorandums of understanding (MoUs) worth Rs 18,590 crore with six companies of the United Arab Emirates (UAE) ahead of the Global Investors’ Summit to be held in Lucknow in February.
A delegation led by MSME Minister Rakesh Sachan went to the UAE and met their Minister of State for Foreign Trade Dr Thani bin Ahmed Al Zeyoudi. At various events held in the UAE, 25 letters of intent totaling Rs 21,622 crore were received. Of these, MoUs worth Rs 18,590 crore were signed between six companies and the Uttar Pradesh government. This will result in the creation of more than 20,000 new employment opportunities.
Astha Green Energy Venture and Shree Siddharth Infratech & Services will invest Rs 4,480 crore and Rs 8,000 crore respectively in the field of renewable energy, creating 2,560 and 4,800 new jobs respectively.
Sharaf Group and Hindustan Port will invest in the Logistics Park sector. These companies will invest Rs 1,300 crore and Rs 210 crore respectively in the state and provide 1,500 and 1,000 jobs respectively.
Lulu Group will invest Rs 4,500 crore in retail and food processing sectors, creating 10,000 jobs. Sobha Realty will invest Rs 100 crore in education and CSR. This will provide employment to 250 people.
Ahead of the Global Investors’ Summit, which will take place in February, eight teams of the Uttar Pradesh government visited 16 countries, receiving investment proposals totaling more than Rs 7.12 lakh crore. The largest share of investment proposals worth Rs 4 lakh crore has been received from the United Kingdom (UK) and the United States of America (USA).