'Ground Breaking Ceremony' to inaugurate projects in UP

| | Lucknow | in Lucknow

After holding a grand Investors Meet in February, the UP government is now gearing up for 'Ground Breaking Ceremony' to inaugurate projects worth over Rs 56,000 crore in Lucknow on July 29. 

The function will be attended by Prime Minister Narendra Modi and corportate honchos like Mukesh Ambani, Gautam Adani, Kumar Manglam Birla, Subhash Chandra and representatives of major industrial houses. from the corporate world. 

UP has become the first state to implement a total of 64 projects within five months of the signing of MoUs during Investors Meet. These projects are expected to generate around 2 lakh new jobs. 

The Yogi government has started preparing for the event to be held at Indira Gandhi Prathisthan on July 28 and 29. 

The PM was expected to stay at the venue for over 90 minutes and was likely to have lunch with the industrialists to be hosted by Chief Minister Yogi Adityanath.

Industry minister Satish Mahana said in Lucknow on Wednesday that the ground breaking ceremony would mark the highest conversion rate for 1,045 MoUs with potential investment of Rs 4.28 lakh crore during UP Investors Summit-2018. 

"An additional investment of Rs 40,000 crore was later promised bringing the total estimated investment to Rs 4.68 lakh crore. We are going to have more investments in UP in a year than it goty in the last 15 years,” said Mahana.

The minister claimed that other states have been able to implement only 8 to 10 per cent of such MoUs. 

"We will now be holding more ground breaking ceremonies every two month to ensure implementation of MoUs shortlisted by the government,'' he said. 

Investors would be honoured during the ceremony and foundation stones of new projects would be laid. He said all departments have been asked to issue provisional Letters of Comfort (LoCs) to investors as a mark of assurance of the government’s intent of holding their hands to implement projects with ease in a time-bound manner.

The projects which were cleared and were likely to be part of the ceremony include Tata Consultancy Services, PayTM, ACC Cement, Tegna Electronics, Metro Cash and Carry, Berger Paints, Greenply Industries, PTC Industries, Kanodia Group, Paswara Paper, DCM Shriram, B L Agro Industries, Goldie Masale, Tikaula Sugar Mills, Yash Papers, C P Milk and Food Products, Sukhbir Agro Energy, HPCL, GAIL, SLMG Beverages and some others. 

These companies have proposed investment in cement, food processing, paper, textiles, information technology, electronics manufacturing, renewable energy, power and dairy development etc. 

Lucknow was being decked up for the event. The road from Amausi airport to the venue was being decorated and big hoardings were to be put up and encroachments were being cleared.