GNIDA allots 62 acres under mega industrial scheme, two Korean companies get land

GREATER NOIDA: Five companies out of a total of six were allotted 62 acres of land under Greater Noida Industrial Development Authority (GNIDA’s) industrial plots scheme under fast track, mega investment category on Tuesday.
While two among them are Korean companies, investments of about Rs 1,000 crore along with revenue of about 200 crores are expected from the scheme which will offer job opportunities to about 5,700 people including local residents.
The allotments that were carried out based on interviews include two Korean companies, Dreamtech Electronics India Pvt Ltd and Starion India Pvt Ltd which were both allotted 20 acre plots (8,094 sqm) each in sector Ecotech 10. While the former will invest Rs 264.71 crore foreign direct investment (FDI), the company will manufacture modules for mobile phone accessories and image recognition devices and applications. The company plans to employ about 2,600 people and promised jobs to 50% local youth of the region. “The company has opted for a one-time payment (OTP) option and will begin manufacturing in 2 years. This is the first unit of the company in UP,” said Narendra Bhooshan CEO GNIDA.
The second Korean company Starion India Pvt Ltd which is already operating in Greater Noida has opted for expansion and taken a 20 acre plot in sector Ecotech 10. The company will invest Rs 240.60 crore and will produce electronics and electrical appliances such as refrigerators, washing machines, air purifiers, etc. “It will employ about 1,000 people and will begin production in two years,” said Bhooshan.
Others that were allotted plots under the mega industrial scheme include Allied Nippon Pvt Ltd which was allotted 10 acres (4,0474 sqm) in sector Ecotech 10 and will invest Rs 250 crore and offer job opportunities to about 800 people. “It’s an export oriented unit (EOU) which is a big company for automotive and has been operating in India for the last 40 years and provides its products to Bajaj, Maruti and Honda groups. The company has opted for OTP and will employ about 800 people,” said Deep Chandra, additional chief executive officer (ACEO) GNIDA.
Further, 10 acres (4,0474 sqm) of plot was allotted to Super Plastronics Pvt Ltd in sector Ecotech 10 and will invest Rs 140 crores and will offer job opportunities to 1,200 people. The company deals in electronic goods including high end LED, TV and air conditioners with advanced features and technology from USA, France and Germany. “The company will begin production in one year,” said Chandra.
The fifth company Alpha Milkfoods Pvt Ltd which deals in production of dairy products was allotted 1.5 acres (6,000 sqm) of plot in sector Ecotech 10. The company will invest Rs 27 crore and offer job opportunities to about 100 people.