UP govt signs MoUs worth Rs 19,265 crores with firms in US and Canada
Jan 03, 2023
Lucknow (Uttar Pradesh) [India], January 3, : Uttar Pradesh government signed a Memorandum of Understandings (MoU) with US and Canada-based firms worth Rs 19,265 crore ahead of the Global Investors Summit to be held in Lucknow in February, according to the statement released by UP government.
The team under the leadership of Assembly Speaker Satish Mahana and Animal Husbandry Minister Dharampal Singh which visited the places, held about 51 Government to Government (G2G) and Business to Business (B2B) meetings in the span of three days, receiving 27 letters of intent worth more than Rs 41,000 crores, out of which eight proposals were converted into MoUs. Of these MoUs, 4 of the strategic partnership were signed. The MoUs on the remaining 19 proposals are expected to be signed before GIS-23.
During the visit, Satish Mahana met the Indian-origin Speaker of the Legislative Assembly of British Columbia, Raj Chouhan and held government-to-government level talks with him during the roundtable conference. The Animal Husbandry Minister of Uttar Pradesh Dharampal Singh met Canada's Forest Minister, and Minister of Employment and Economic Recovery and Minister of State for Trade.
The maximum investment in the MoUs signed so far is going to be in the Logistics, Defence and Aerospace sectors. Mobility Infrastructure Group will invest Rs 8,200 crores in this sector within the state. With this, about 100 employment opportunities will be generated in the state. At the same time, QSTC Inc company will also invest Rs 8200 crore in defence and aerospace. This will create about 200 employment opportunities.
MoUs totalling Rs 2055 crore were signed between the state government and healthcare sector companies. Under this, My Health Center and ZMQ Companies will invest Rs 2050 crores and Rs 5 crores respectively. This will create about 500 and 60 employment opportunities. On the other hand, Dezero Labs Inc company will invest Rs 10 crores in medical devices. This will create about 75 job opportunities.
MoUs were also signed during the visit for investment in customer durables, hospitality and electronic manufacturing sectors. Akuwa Technology will invest Rs 100 crore in these sectors, providing 25 jobs. Opulence Management Corp will invest Rs 500 crore in the hospitality sector, creating as many as 300 employment opportunities whereas Virtubox has signed an MoU for investment in the electronic manufacturing sector. It will invest Rs 200 crore, creating about 150 job opportunities.
