14,000 projects worth Rs 10 lakh cr to roll out in UP on Feb 19

Lucknow, Feb 11 (SocialNews.XYZ) The Yogi Adityanath government in Uttar Pradesh is all set to kick-start another phase of development in the state with the Ground Breaking Ceremony (GBC) 4.0 in which MoUs worth Rs 10 lakh crore, covering 14,000 projects, will be rolled out on February 19 in the presence of Prime Minister Narendra Modi in Lucknow.

These projects are expected to create 33.50 lakh employment opportunities in the state.

According to the official spokesman, the projected investment rollout for GBC 4.0 is five times greater than the cumulative investment of over Rs 2.10 lakh crore implemented in the previous three groundbreaking ceremonies.

Over 52 per cent of these projects this time will be launched in western Uttar Pradesh.

Around 29 per cent of the MoUs (memorandums of understanding) will be implemented in the Purvanchal region, which comprises eastern parts of the state.

Besides, 14 per cent MoUs will be implemented in Madhyanchal, and 5 per cent in Bundelkhand. These MoUs were signed at the Uttar Pradesh Global Investors’ Summit-2023 organised in Lucknow in February 2023.

Around 3000 people, including eminent industrialists, representatives of 500 companies, foreign investors, ambassadors, high commissioners and other distinguished guests will attend the February 19 event.

A major slice of investment of 19.24 per cent is in the housing sector, according to the state government spokesman.

In addition, 15 per cent investment is in the renewable energy sector, 13 per cent in manufacturing, 10 per cent in IT and IT-enabled services, 7.83 per cent in logistics and warehousing, 7.5 per cent in energy and 6.01 per cent in food processing.

Source: IANS