Uttar Pradesh government signed Memorandums of Understanding (MoUs) worth Rupees 18,590 crore with six UAE-based firms ahead of the Global Investors Summit (GIS-2023) to be held in Lucknow in February, according to the statement released by the UP government. This will create approximately 20,000 new job opportunities.
The first series of MoUs, Two companies that one is Astha Green Energy Venture and Shree Siddharth Infratech and Services are for investment in the field of renewable energy worth Rs 4480 and Rs 8000 crore respectively, creating 2560 and 4800 new jobs. Two more companies, Sharaf Group, and Hindustan Port have signed MoUs for investment in Logistics Park worth Rs 1300 and Rs 210 crore respectively, providing 1500 and 1000 new jobs
Meanwhile, Lulu Group will invest Rs 4500 crore in the retail and food processing segment, creating 10000 jobs and Sobha Realty will invest Rs 100 crore in the education and CSR sectors, providing 250 jobs.
Ahead of the summit, eight teams of the Uttar Pradesh government visited 16 countries, receiving investment proposals worth more than ₹7.12 lakh crore. The largest share of investment proposals worth ₹4 lakh crore was received from the United Kingdom and the United States.