YEIDA Allots Land to 17 Firms, Unlocks Rs 5,800 Cr Investment

The Yamuna Expressway Industrial Development Authority (Yeida) has allotted land to 17 companies, paving the way for investments worth nearly Rs 5,800 crore and the creation of around 10,000 jobs in the region. The relocation is likely to give a boost to the industrial development around the upcoming Noida International Airport as well as propel Uttar Pradesh's status as a good investment destination around the world.

Yogi Adityanath in a programme at Lucknow on Friday formally handed over the allotment letters. The projects cover multiple sectors with high growth potential – such as Renewable Energy, Battery Manufacturing, Electronics & Electrical Equipment, ICT & ITeS, Data Processing, Transport Infrastructure, MSME Manufacturing, Advanced Industrial Parts etc., Yeida Chief Executive Officer RK Singh said.

Renewable Energy and Manufacturing Drive Lead New Industrial Push

The biggest investment is being made by CESC Green Power Ltd which would set up solar cell and module manufacturing plant of 3-gigawatt over 100 acres in sector 8-D. The project will cost an estimated Rs 3,805 crore and create around 5,000 direct employment opportunities, making it one of the biggest renewable energy projects in the region.

Another big name Integrated Batteries India Pvt Ltd is to establish a 25 acres, 4-gigawatt solar PV cell manufacturing plant with a capital investment of Rs 1146 crore. The project is projected to generate approximately 500 jobs, which will enhance India's efforts in clean energy production.

On these projects, RK Singh, CEO at Yeida said, “These projects are spread across major sectors such as renewable energy, battery manufacturing, electronics, IT/ITeS, transport and MSME manufacturing, which will form the base for future-ready industrial growth."

Also Read: India's First SME Semiconductor Plant Opens in Rajasthan

Noida Airport to Anchor World-Class Aerotropolis Growth

The upcoming Noida International Airport (NIA) to enter commercial operations from June 15 is going to be a strong growth point in the industrial and economic development in the Yamuna Expressway region, the officials said with IndiGo airlines to be the first airline from the airport.

The state government has had the hope that the airport and its related industrial developments would create a world class aerotropolis which will lure the multinational companies, export volumes in UP will increase and its profile is going to improve in the global investment market.

According to a senior Yeida official, the projects will attract investment of thousands of crores, creating jobs of more than 10,000 in the region, which will give them a new dimension of development.

The development is seen as a positive indicator of investor's confidence in the industrial ecosystem of UP by the industry fraternities. The Yeida region is one of India's fastest-growing manufacturing and technology hubs, owing to several factors, such as its strategic location close to Delhi-NCR, better logistics connectivity, and proactive policy support, experts say.

The Yeida corridor is likely to become a strong pillar of employment, exports and sustainable industrial development in the near future as industrial construction is expected to commence shortly.