New Okhla Industrial Development Authority (Noida) has signed a memorandum of agreement (MoU) worth USD one billion with Singapore’s SLG Capital for setting up a data centre in the NCR region, said Uttar Pradesh State Industrial Development Authority (UPSIDA).
In the presence of minister Swatantra Dev Singh, a major MoU has been signed with SLG Capital Singapore for US$ 1 billion for investment and data centre establishment in Noida- Greater Noida region in UP. This will give a major boost to the development of the area,” Uttar Pradesh State Industrial Development Authority (CEO Noida) said.
In yet another deal, UPSIDA said it also signed an MoU worth Rs 2,000 crore with Star Consortium Private Limited Signed in Singapore for the establishment of Datacenter/Logistic services in Uttar Pradesh. “The investment worth 2,000 crores will generate employment for many people in the state,” tweeted the Authority.
UP government is establishing Noida as a data centre hub, approving a Rs 15,000 crore plan, which it hopes will generate over 4,000 jobs. In order to woo investors, the state’s data centre policies give sops such as capital subsidy, interest subvention, and stamp duty exemption, along with non-financial and power-related facilities.