Lucknow: India’s most populous state, Uttar Pradesh, which is considered to be one the most underdeveloped, is set to get a whopping Rs 50,000 crore investment and three lakh jobs in the Defence sector.
About two dozen companies are ready to invest in the state which is hosting the mega event- Defence Expo 2020 from the 5th to the 9th of February.
“The state will sign 23 memorandum of understanding (MoU) during the ongoing Defence Expo 2020,” Chief minister Yogi Adityanath said on Wednesday while addressing a gathering after Prime Minister Narendra Modi had inaugurated India’s largest ever defence event.
He said these agreements would create employment opportunities for 300,000 people and fetch investments worth Rs. 50,000 crore for UP Defence Corridor, which spans six nodes - Lucknow, Kanpur, Jhansi, Chitrakoot, Aligarh and Agra.
According to sources, Titan Aviation & Aerospace India has sought 6,000 acres near Jhansi, almost double the entire land earmarked for the corridor in the node. The company will set-up maintenance, repair and overhaul facility for tanks, air strips and engine airframes in collaboration with Ukranian firms.
Tata Technology, SpiceJet Technic, Central Railside Warehouse, Osho Corp Global, MKS business, Shri Hans Energy, SSS Springs and a few other companies are expected to sign the MoU in the next four days.
After UP was awarded the Defence Corridor in 2018, State had formulated defence and aerospace policy and created a large land bank of 25,000 acres in the six nodes.
The CM claimed owing to the better connectivity in UP and improved law and order, the state had emerged a preferred investment destination, and the DefExpo would further fuel its forward march.
Yogi said that his government is working hard on infrastructure development and build a network of mega expressways. While, two expressways viz. Yamuna Expressway and Agra-Lucknow Expressway are operational, two other expressways - Purvanchal Expressway and Bundelkhand Expressway will be operational in a couple of years.
The Defence Ministers and service chiefs of 38 countries are participating in the 11th edition of the Expo. Nearly 1,028 companies, including 172 foreign firms, are attending this year's event.
Top defence manufacturers from France, United Kingdom, United States, Russia, Australia, Israel, Germany such as Dassault, Lockheed Martin, Thales have set-up their pavilions.
