DP World agrees to join Dadri Multi Modal Logistics Hub
Dubai-headquartered Sharaf Group and Abu Dhabi-based Lulu Group have committed investments in Uttar Pradesh’s industrial development programme following a week-long UP Government participation at the EXPO2020 Dubai.
“We are happy to announce that we have finalised our investments plans with Uttar Pradesh at three locations involving Rs.500 crores initially and going up to Rs.1,000 crores. With this investment, we are aiming to generate direct and indirect employment of 3,600 people,” Maj. Gen. (Retd.) Sharafuddin Sharaf, the Group Vice Chairman said at the expo.
Additionally, Lulu Group plans to invest Rs.500 crore for establishing Food Processing units in Uttar Pradesh.
DP World, a leading multi-national out of the Middle East, has also agreed to participate in the tender process for development of Multi Modal Logistics Hub (MMLH) at Dadri in the state.
“Our intention is to increase exports from India by 35% in the coming years. We will also be opening hypermarkets in cities like Kanpur and Noida,” assured Saleem V.I., Chief Operating Officer, Lulu Group International.
“With the investment plans, we are hoping to generate direct employment of 5,000 and indirect employment of 10,000 in the country,” he said.
“As of last year, we have done around Rs.4,000 crores of exports from India and more than 50% is from Uttar Pradesh,” he said.
Separately, MoUs worth Rs.1.78 lakh crores are under various stages of implementation out of the Rs.4.28 lakh crore worth of MoUs signed at the UP Investors Summit 2018, the State’s Minister for Industrial Development Satish Mahana told an investor meet at the EXPO2020 Dubai on 23 Dec 2021.
This means “Uttar Pradesh has witnessed a high MoU conversion rate in India,” he said through virtual conference at the closing ceremony of the Uttar Pradesh Week at the India Pavilion at the global expo.
Inviting investors to join the industrial development progamme, he said, “the State has generated fresh leads worth around Rs.66,000 crores at dedicated helpdesk set up post Covid19 in April 2020.
“On the international front, the State’s exports registered a steep rise of nearly 36% between FY18-20.”
The Uttar Pradesh Week (10-23 December) concluded on a high note as the delegation led by Maneesh Chauhan, Director, Industries, Government of UP, held 21 G2B meetings and signed an MoU of Rs.500 crore (close to US$66 million) with Sharaf Group for the development of Multimodal Logistics Parks with rail and road connectivity at Kanpur, Moradabad and Varanasi.
“Uttar Pradesh became a buzz word amongst the investor fraternity, both domestic and international, and we experienced the same wave during our 14-day participation at Dubai Expo 2020. The Expo has served as an incredible platform for India and Uttar Pradesh to reach out and showcase to the whole world the new face of a fast growing and technologically driven land of unlimited opportunities and immense potential,” Mahana said.
The delegation from UP also had successful business meetings to explore trade and investment opportunities across sectors like Logistics, Food processing, Tourism, Textiles, MSMEs as it received favourable interest from business groups like Texmas, Hotel Revier Group, Techneplus, Dubai Chamber of Commerce & Industry, Sharjah Chamber of Commerce & Industry, Arenco Real Estate, Al Maya Group among others.
As part of the state week, Uttar Pradesh also showcased its vibrant startup ecosystem as eight entrepreneurs from the state presented their innovative business ideas and made strong pitch to global investors at ‘Elevate’ startup pitching series, a key initiative of the India Pavilion. Tech Eagle Innovations, UP based drone delivery startup for last and mid mile logistics, also signed an MoU with Astral Aerial Solutions, a Kenyan UAV technology company, during the state week.
The state hosted an array of cultural performances throughout the week to highlight its cultural diversity and heritage which included folk dance of Braj, flok songs of Purvanchal known as Birha, Kathak Dance, Awadhi folk singing, folk dance of Rai and Ram Leela. fiinews.com
