Uttar Pradesh to Develop Japanese and South Korean Industrial Cities in Noida

    Date:

    Share post:

    The Uttar Pradesh government is set to acquire approximately 760 hectares of land in Gautam Buddha Nagar district to develop exclusive Japanese and South Korean industrial enclaves in Noida, officials said.

    The Yamuna Expressway Industrial Development Authority (YEIDA) will oversee the project, which includes an investment of more than Rs 2,500 crore to develop the twin industrial cities. The Japanese enclave will span 395 hectares, while the South Korean enclave will cover 365 hectares.

    Officials said the initiative aims to attract manufacturers from Japan and South Korea to set up operations in Uttar Pradesh, serving both domestic and global markets. The proposal for the industrial cities emerged during the UP Global Investors Summit (GIS) 2023 after discussions with investors from the two countries.

    “We have already received positive responses from investors,” a senior Uttar Pradesh government official said. “Since the two mega industrial townships will be located near the upcoming Jewar International Airport, we believe this will open the floodgates to significant foreign investments, particularly in electronics and information technology (IT).”

    YEIDA Chief Executive Officer Arun Vir Singh said the cities will support the manufacturing of electronic products, including artificial intelligence (AI) equipment, microchips, and semiconductors.

    The state’s Foreign Direct Investment (FDI) policy, seamless connectivity, and growth potential in the Noida-NCR region are key factors attracting companies to invest in the state, officials said.

    YEIDA plans to acquire about 6,000 hectares of land flanking the Yamuna Expressway for further development near the international airport. The authority will spend Rs 14,000 crore on land acquisition over the next two years. This includes procuring 1,600 hectares directly from landowners, acquiring nearly 4,000 hectares through other means, and reclaiming 400 hectares of government-owned land.

    YEIDA has estimated costs of nearly Rs 63,000 crore for the development of basic infrastructure such as roads, power, and civic amenities to prepare the 6,000 hectares for urbanization, which will include industries, townships, and commercial arcades.

    The development of the Japanese and South Korean industrial cities is expected to boost Uttar Pradesh’s industrial sector significantly. With substantial investments, strategic land acquisition, and robust infrastructure development, these enclaves are poised to become major manufacturing and technological innovation hubs.

    The proximity to Jewar International Airport and supportive government policies further enhance the attractiveness of these cities to foreign investors. As these projects progress, they hold the promise of transforming the region into a thriving center of economic activity and industrial growth.

    Related Posts

    Latest posts

    Ghaziabad Indirapuram Handover: Progress Update and Prospects for End-July Transition

    GHAZIABAD, India — Officials from the Ghaziabad Development Authority (GDA) have hinted at the imminent handover of the...

    Yeida to Implement New Land Allotment Guidelines Following M3M Dispute

    NOIDA, India — The Yamuna Expressway Industrial Development Authority (Yeida) plans to introduce new guidelines for land allotment,...

    Real Estate Sector Pins Hopes on Modi 3.0: Focus on Infra Development and Affordable Housing

    NEW DELHI — The real estate sector is optimistic that Prime Minister Narendra Modi's third term will bring...

    Suraksha Group to Pay YEIDA in Jaypee Infratech Acquisition

    India (June 11, 2024), a Mumbai-based real estate conglomerate — The Suraksha Group has taken control of debt-laden...