GDA Exceeds 84% of Rs 60,000 Crore Investment Goal
ECONOMY & POLICY

GDA Exceeds 84% of Rs 60,000 Crore Investment Goal

In a significant achievement, the Greater Noida Authority has successfully executed 84% of its ambitious Rs 60,000 crore investment target mandated by the Uttar Pradesh government. The momentous progress will be officially unveiled at the upcoming groundbreaking ceremony scheduled for later this year.

Officials revealed that out of the 175 Memoranda of Understandings (MoUs) inked with a diverse array of industries, developers, and entrepreneurs, a staggering 148 MoUs, amounting to Rs 50,419 crore, have materialized on the ground, indicating successful land allotments.

The breakdown of these achievements includes 45 MoUs from builders, 32 from commercial entities, 36 from industries, 26 from the institutional sector, and 9 from the IT/ITES sector. This surge in investments is anticipated to create over 70,000 job opportunities.

Among the notable builders contributing to this success are the Country Group with a substantial investment of Rs 2,000 crore, Eldeco and Iris each committing Rs 1,000 crore, and Purvanchal pledging Rs 800 crore.

In the industrial sector, Dixon is set to invest Rs 500 crore in the Ecotech 8 project, while Hair plans a Rs 640 crore expansion project. Addverb, a global robotics and automation company, is earmarking Rs 500 crores for a 15-acre land project, and Cheng Feng has committed funds worth Rs 340 crore.

The IT sector is witnessing robust investment commitments, with Advance Compusoft allocating Rs 1,000 crore for an IT and commercial park in Techzone 4. Bhutani Grandthum is also contributing Rs 1,000 crore on 25 acres of allotted land in Techzone 4, while Migsun, an IT project in Techzone, is set to invest Rs 500 crore.

Under the institutional category, Yatharth?s hospital is poised to invest Rs 250 crore to construct a 250-bed hospital in Greater Noida West.

In the commercial domain, Boulevard Walk, a mixed-use development by Home and Soul, is affirming a significant investment of Rs 1,000 crore on the 5 acres of allotted land in Greater Noida West, showcasing a commitment to transformative urban development.

Officials emphasized the Authority's strategic focus on attracting investments in IT and data centers, along with educational institutions. Notably, ST Telemedia, a Singapore-based company, has secured 10 acres of land in Knowledge Park 5 and is eager to invest Rs 1,500 crore in a cutting-edge data center project.

Additionally, officials disclosed that negotiations are currently underway with companies eager to invest under the state's FDI policy, further underlining the sustained momentum in Greater Noida's economic growth.

In a significant achievement, the Greater Noida Authority has successfully executed 84% of its ambitious Rs 60,000 crore investment target mandated by the Uttar Pradesh government. The momentous progress will be officially unveiled at the upcoming groundbreaking ceremony scheduled for later this year. Officials revealed that out of the 175 Memoranda of Understandings (MoUs) inked with a diverse array of industries, developers, and entrepreneurs, a staggering 148 MoUs, amounting to Rs 50,419 crore, have materialized on the ground, indicating successful land allotments. The breakdown of these achievements includes 45 MoUs from builders, 32 from commercial entities, 36 from industries, 26 from the institutional sector, and 9 from the IT/ITES sector. This surge in investments is anticipated to create over 70,000 job opportunities. Among the notable builders contributing to this success are the Country Group with a substantial investment of Rs 2,000 crore, Eldeco and Iris each committing Rs 1,000 crore, and Purvanchal pledging Rs 800 crore. In the industrial sector, Dixon is set to invest Rs 500 crore in the Ecotech 8 project, while Hair plans a Rs 640 crore expansion project. Addverb, a global robotics and automation company, is earmarking Rs 500 crores for a 15-acre land project, and Cheng Feng has committed funds worth Rs 340 crore. The IT sector is witnessing robust investment commitments, with Advance Compusoft allocating Rs 1,000 crore for an IT and commercial park in Techzone 4. Bhutani Grandthum is also contributing Rs 1,000 crore on 25 acres of allotted land in Techzone 4, while Migsun, an IT project in Techzone, is set to invest Rs 500 crore. Under the institutional category, Yatharth?s hospital is poised to invest Rs 250 crore to construct a 250-bed hospital in Greater Noida West. In the commercial domain, Boulevard Walk, a mixed-use development by Home and Soul, is affirming a significant investment of Rs 1,000 crore on the 5 acres of allotted land in Greater Noida West, showcasing a commitment to transformative urban development. Officials emphasized the Authority's strategic focus on attracting investments in IT and data centers, along with educational institutions. Notably, ST Telemedia, a Singapore-based company, has secured 10 acres of land in Knowledge Park 5 and is eager to invest Rs 1,500 crore in a cutting-edge data center project. Additionally, officials disclosed that negotiations are currently underway with companies eager to invest under the state's FDI policy, further underlining the sustained momentum in Greater Noida's economic growth.

Next Story
Infrastructure Transport

Railway stations in Prayagraj undergo major passenger facility expansion

The Railway Board Chairman and CEO, Satish Kumar, conducted an extensive inspection on Saturday alongside the General Manager of Northern Railway and the officiating General Manager of North Central Railway. Their visit focused on various ongoing projects at multiple stations across the Northern and North Central Railway zones, with particular attention to enhancing facilities for the upcoming Maha Kumbh. During the inspection, Chairman Kumar reviewed the construction of a vital bridge over the River Ganga, specifically between Jhunsi and Prayagraj Rambagh. This bridge is expected to significa..

Next Story
Infrastructure Transport

Madurai-Thoothukudi broad gauge line works under review

The construction of the Madurai-Thoothukudi broad gauge line, which includes the crucial Melmarudur-Tiruparankundram project, is currently under careful review. This update comes from Southern Railway's assistant public information officer, J Kumarasubramanian, following an RTI inquiry made by a concerned citizen, Dayanand Krishnan. The new broad gauge line is projected to cover a total length of 143.5 km, with the initial 18 km stretch between Milavittan and Melmarudur completed and sanctioned by the Commission of Railway Safety on March 8, 2022. While substantial progress has been made on t..

Next Story
Real Estate

DLF expects Rs 26,000 cr from super luxury project in Gurugram

Realty giant DLF is projecting impressive revenue of Rs 26,000 crore from its newly unveiled super-luxury project, The Dahlias, situated in the heart of Gurugram. Ashok Tyagi, the Managing Director of DLF, shared these insights during a recent conference call with market analysts, highlighting the project's potential amidst rising demand for high-end residential properties. The Dahlias project spans an expansive 17 acres and is set to feature approximately 420 ultra-luxury apartments, each boasting a minimum size of 10,300 square feet. This ambitious development has already garnered significan..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000