UP Govt inks over 154 defence deals worth Rs 250 Bn
DEFENSE

UP Govt inks over 154 defence deals worth Rs 250 Bn

According to a senior Uttar Pradesh government official, the state administration has finalised more than 150 defence manufacturing agreements amounting to Rs 250 billion. The government is focusing on expanding India's defence export capabilities. The Ministry of Defence announced that India's annual defence production reached nearly Rs 1.27 trillion in FY24, marking a 16.7% increase from the previous year's figure of about Rs 1.09 trillion.

These defence projects are part of the extensive UP Defence Industrial Corridor (UPDIC), encompassing Lucknow, Kanpur, Jhansi, Aligarh, Chitrakoot, and Agra districts. The official stated that these initiatives are expected to generate approximately 40,000 new jobs.

"We have entered into 154 memorandums of understanding (MoUs) with various companies, and around 85 deals are currently under evaluation," he mentioned. The Uttar Pradesh Expressway Industrial Development Authority (UPEIDA), serving as the corridor's nodal agency, continues to acquire large tracts of land for allocation to industrial entities. UPEIDA has acquired 1,700 hectares of land to date, with over 40 companies already allocated parcels.

"These 42 companies are poised to invest nearly Rs 80 billion in their respective projects, which will significantly contribute to Uttar Pradesh becoming a pivotal component in India's quest for self-reliance in defence production and boosting defence exports," the official elaborated.

According to a senior Uttar Pradesh government official, the state administration has finalised more than 150 defence manufacturing agreements amounting to Rs 250 billion. The government is focusing on expanding India's defence export capabilities. The Ministry of Defence announced that India's annual defence production reached nearly Rs 1.27 trillion in FY24, marking a 16.7% increase from the previous year's figure of about Rs 1.09 trillion. These defence projects are part of the extensive UP Defence Industrial Corridor (UPDIC), encompassing Lucknow, Kanpur, Jhansi, Aligarh, Chitrakoot, and Agra districts. The official stated that these initiatives are expected to generate approximately 40,000 new jobs. We have entered into 154 memorandums of understanding (MoUs) with various companies, and around 85 deals are currently under evaluation, he mentioned. The Uttar Pradesh Expressway Industrial Development Authority (UPEIDA), serving as the corridor's nodal agency, continues to acquire large tracts of land for allocation to industrial entities. UPEIDA has acquired 1,700 hectares of land to date, with over 40 companies already allocated parcels. These 42 companies are poised to invest nearly Rs 80 billion in their respective projects, which will significantly contribute to Uttar Pradesh becoming a pivotal component in India's quest for self-reliance in defence production and boosting defence exports, the official elaborated.

Next Story
Real Estate

Varun Malik Joins ANAROCK as MD, Head of Capital Markets, APAC

ANAROCK Capital has appointed Varun Malik as Managing Director, Head of Capital Markets (APAC), marking a strategic move to expand its presence across Asia-Pacific. Based in Singapore, Malik will drive ANAROCK’s capital markets initiatives in the region.A real estate finance veteran, Malik brings over 18 years of experience in structuring complex cross-border transactions across South-East Asia and Australia. He has led debt and equity deals for REITs, fund managers, and developers, delivering strong returns and driving investor value.“We will redefine real estate capital solutions across ..

Next Story
Real Estate

Patra Chawl lottery held, 663 families allotted homes

Mumbai's Siddharth Nagar (Patra Chawl) Co-operative Housing Society members in Goregaon (West) saw their 15-year wait come to a close as MHADA conducted a successful computerised lottery for 663 eligible members under its redevelopment scheme.The Mumbai Housing and Area Development Board conducted the draw using the RAT (Randomised Allotment of Tenement) system at Sardar Vallabhbhai Patel Hall. The lottery, overseen by Mr. Milind Borikar, Chief Officer of Mumbai Board, ensured transparency by digitally allotting each member a building, wing, and floor.The project, located on Plot R-9, received..

Next Story
Infrastructure Transport

BLR Airport crosses 41 million passengers, 500,000 MT cargo

Kempegowda International Airport, Bengaluru (BLR Airport), has recorded key operational milestones in FY 2024-25, crossing 41.88 million passengers and handling 502,480 metric tonnes of cargo. This marks a year-on-year passenger growth of 11.6 per cent and a 14 per cent rise in cargo volumes.Domestic footfall reached 36.05 million, up 10 per cent, while international traffic saw a robust 25 per cent jump to 5.83 million, aided by Indigo’s global expansion and added frequencies by international carriers. BLR Airport now connects to 76 domestic and 33 international destinations, with Hanoi set..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?