Chief Minister Yogi updates investors at EXPO2020 Dubai
Bharat Dynamics Ltd, manufacturer of missiles and underwater weapons for the Indian Armed Forces, is among the leading investor, having committed Rs.400 crore to a phase-1 plant in Jhansi as part of the Uttar Pradesh defence corridor, UP Chief Minister Yogi Adityanath said in a video message at the launch of UP business prospects at the India Pavilion of EXPO2020 Dubai.
The company has signed an MoU in August 2021 with the state government through UP Expressway Industrial Development Authority for the investment in the state’s upcoming defence corridor.
Under the MoU, BDL is acquiring 250 hectare land in Jhansi under a lease agreement for an initial period of 30 years, which will be extendable to up to 90 years.
Additionally, Rs.12,000 crore of investments have been realized in Aligarh nod of the UP defence corridor, according to the state’s press release on 11 Dec 2021.
In a bid to attract international investments, Yogi also highlighted a number of infrastructure projects, including 11 upcoming airports, adding that three of the 10 airports in the state are already connected to 74 international and national destinations.
There are 4,365 Indian companies, 238 commercial agencies and 4,862 trademarks registered in the UAE, added State Cabinet Minister for Industry Development Satish Mahana in his call for investments in UP and India.
The large Indian community based in the UAE is a key contributor in the Indian economic development, according to State Cabinet Minister for NRI, MSME & Textile, Siddharth Nath Singh. fiinews.com
