Noida Authority has signed MoUs with nearly 50 companies, including Godrej Properties and M3M, for investments worth over Rs 25,800 crore.
M3M India and Godrej Properties will invest Rs 7,500 crore and Rs 2,400 crore, respectively, in real estate projects here. Similarly, Assotech Realty has signed an MOU to invest Rs 950 crore for the expansion of their business. Besides, investment proposals worth Rs 7,000 crore by around 40 small companies are in the pipeline and MoUs with them are slated to be signed in the next couple of days.
Each of the three industrial development agencies in Gautam Budh Nagar — Noida, Greater Noida, and Yamuna Expressway — has been given a target to secure investment proposals of Rs 60,000 crore for the upcoming Summit to be held in Lucknow from February 10 to 12. Overall, the UP government has fixed a target of Rs 10 lakh crore for the summit.
The government has also formed 18 delegations of senior officials to bring in investments from across the globe. While Noida and Greater Noida CEO Ritu Maheshwari will be traveling to Australia and Singapore, YEIDA CEO Arun Vir Singh is slated to visit Japan and South Korea to hold talks with potential foreign investors.
The investors are also told about the presence of all renowned companies in Noida and areas under the other two authorities and investments done in the past few years. There are already 10,000 units functional in Noida. The Authority would offer large chunks of land to companies in Japan and Korea to set up industrial townships in the region.
