ITC, Srei Infra keen to invest in Uttar Pradesh

Our Bureau Kolkata | Updated on January 08, 2018 Published on January 05, 2018

FMCG major may invest ₹2,000 cr in a proposed food and solar parks

FMCG major ITC Ltd and infrastructure finance company Srei Infra have evinced interest in investing in Uttar Pradesh, said the State Industry Minister, Satish Mahana.

According to Mahana, ITC might invest ₹2,000 crore towards a proposed food park and also a solar park. Srei, on the other hand, has expressed interest to participate in the urban development plans and also towards infrastructure investments. Around ₹25,000 crore could go into various infra projects taken up by the Uttar Pradesh government.

“The exact quantum of investments will be decided once the detailed project reports are finalised. But, we have seen interest from Kolkata-based companies to invest in Uttar Pradesh,” Mahana said during a press conference.

The Minister and other bureaucrats were here for a roadshow ahead of its two day investors’ summit scheduled in February.

“We expect to draw investments worth of ₹1 lakh crore during this two-day summit,” he said, adding that the State Government would look at international roadshows for future editions of the summit.

Quick clearances

According to the Minister, the State Government will unveil an electronic clearance system – for industrial projects and proposals – which will not require any human interface.

The system, currently in the testing phase, will be up and running before the summit.

“There are some futuristic policies that are coming in the next 15 days and these policies will be in the areas of electric vehicle, logistic and warehousing, defence manufacturing and pharmaceuticals sector,” he said.

Published on January 05, 2018
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