WB sees investment potential in UP

In a news that may sound music for the ears of Chief Minister Akhilesh Yadav, the World Bank, in its report, has suggested that Kanpur-Auraiya sub-region has an investment potential of around Rs 84,729  million in the industrial infrastructure sector which by 2021 can generate an incremental employment of around one million.

This was informed by World Bank global practice director Maninder Gill through a detailed presentation made before Principal Secretary (Industries and Infrastructure Development) Sanjiv Saran and UP State Industrial Development Corporation Managing Director Manoj Singh.The World Bank, which had recently sanctioned a loan of $1.1 billion  for the construction of a 393 km double-line between the Mughalsarai–Bhaupur section of the Eastern Dedicated Freight Corridor (EDFC) project, presented its key findings on three sub-regions of Uttar Pradesh for the augmentation of their industrial infrastructure and to link them to the upcoming corridor.

The three sub-regions include Agra-Ferozabad sub-region, Kanpur-lucknow-Unnao-Auraiya sub-region and Allahabad-Varanasi sub-region. The World Bank authorities in their detailed study presented the socio-economic analysis of these sub-regions, the potential clusters in these sub-regions, their economic linkage assessment and impediments in those linkages. Subsequent to this, the infrastructure assessment and requirements to materialise the opportunities in these sub-regions were also discussed.

Saran said the State Government had already initiated new industrial projects in these regions, namely Trans-Ganga City, Unnao-Kanpur, Greater Allahabad Sangam City and Plastic City, Auraiya.He said that apart from these projects, a theme park was being developed in Agra on 1000 acre area. All these areas will incorporate various features of industrialisation as suggested by World Bank. 

Soon, a high-level task force of various stakeholders and government departments will be formed to speed up compliance of various suggestions given by the World Bank.The World Bank team appreciated the efforts of the state Government and was very enthusiastic to fund critical gap in development of  infrastructure in these regions.