UP govt signs MoUs worth Rs 18,590 crore with UAE based companies

UP government signed a MoUs with six UAE-based companies worth Rs 18,590 crore with six companies of the UAEs ahead of the Global Investors Summit to be held in Lucknow in February

Uttar Pradesh government signed a Memorandum of Understandings (MoUs) with six UAE-based companies 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, according to the statement released by UP government.

According to the statement, this agreement will help in the creation of over 20,000 new employment opportunities.

The two companies, Astha Green Energy Venture and Shree Siddharth Infratech and Services will invest in renewable energy worth Rs 4480 and Rs 8000 crore respectively to create 2560 and 4800 new jobs.

Meanwhile, another two companies, Sharaf Group and Hindustan Port will invest in the Logistics Park sector. The investment will be Rs 1300 and Rs 210 crore respectively in the state, providing 1500 and 1000 jobs, the statement reads.

Lulu Group will invest Rs 4500 crore in retail and food processing sectors, creating 10000 jobs. While Sobha Realty will invest Rs 100 crore in education and CSR. This will provide employment to 250 people.

Investment proposals worth over Rs 7.12 lakh crore received ahead of GIS 2023, according to the statement.

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 totalling 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)

In this Global Investors Summit, Prime Minister Narendra Modi, President Draupadi Murmu, Union Home Minister Amit Shah, Union Defence Minister Rajnath Singh along with other prominent Union Ministers will attend.

After inviting investors from 16 major countries of the world to invest in Uttar Pradesh, domestic road shows are going to start in nine major cities of the country from January 5 under the leadership of Chief Minister Yogi Aditya.