Azure has a project to establish solar plants across the state to produce about 1,000MW of solar power.
Lucknow: The second ground breaking ceremony, where the UP government plans to launch around 300 projects worth about Rs 65,000 crore, is expected to be inaugurated by Prime Minister Narendra Modi on February 27 in Kanpur.
“The ceremony has been planned for Kanpur as the first one was held in Lucknow. Kanpur is also an industrial city and we would like to encourage the development of the city properly on those lines. The ground breaking follows the Investors’ Summit held in February 2018 during which the government signed MoUs worth over Rs 4.2 lakh crore,” said industries minister Satish Mahana.
Kanpur, known for its leather industry, is currently witnessing a massive slowdown in the sector after almost all tanneries were closed down for an indefinite period just before the start of Kumbh Mela.
Racing against time to hold the ceremony before the code of conduct is announced ahead of the 2019 Lok Sabha polls, the government plans to showcase UP as an investment hub and is expected to organise the event amid much fanfare. Sources said that more than 5,000 persons were expected to attend the event.
“This has been one of the major achievements of the BJP government in the state and we want to show that not only did we sign MoUs, which the previous governments also did, but we also managed to get the projects going,” said a senior government official.
Of the 300 projects that will be launched this month, two are worth Rs 12,000 crore. The Aditya Birla group will be setting up a cement plant in Mirzapur worth Rs 6,000 crore while Azure has a project to establish solar plants across the state to produce about 1,000MW of solar power. Samsung, which opened up the world’s largest mobile manufacturing factory in Noida last year, has planned an incremental investment of Rs 2,000 crore. Pepsico has pledged an investment of Rs 1,100 crore while ITC will be spending Rs 700 crore on a manufacturing unit for fast moving consumer goods. Other companies that area expected to participate in the event include Haier, Lava and Vivo.
In the previous ground breaking ceremony held in July 2018, just five months after the Investors’ Summit, the government had launched 81 projects worth Rs 60,146 crore on Sunday. Seven projects among these accounted for 68% of the total investment, including two of Rs 10,000 crore each.
Out of the 81 projects that were launched, 26% were in the field of heavy industries, 17% in food processing, 11% in IT, 8% in housing, 6.2% in MSME, 5% in dairy and tourism respectively and 4% in animal husbandry.
News Source: ET Energyworld