UP Defence Corridor has received 93 investment bids totaling more than Rs 11,250 crore. The process of luring more defence industry enterprises is under progress.
The Uttar Pradesh Expressway Industrial Development Authority (UPEIDA), the nodal body for project implementation, has inked memorandums of understanding (MoUs) with these private corporations.
About 30 firms have received land for the construction of their facilities, despite the fact that UPEIDA has so far bought 1,600 hectares of property. The UP Defence Corridor spans six nodes in the state: Lucknow, Kanpur, Jhansi, Aligarh, Chitrakoot, and Agra. It is a crucial cog in the nation’s defence and strategic matrix.
Apart from the previously announced UP Defence and Aerospace Employment Promotion Policy, the state has made a few amendments to encourage private investment. The state government has tied up with leading commercial banks and financial institutions to promote the easy flow of funds to prospective investors.
