South Korean firm plans to invest nearly Rs 500 crore in Gr Noida

gr noida: The smart city Greater Noida continues to attract foreign companies and investors with a South Korean company, manufacturing home appliances, planning to invest nearly Rs 500 crore to set up its manufacturing unit in the industrial township.

A delegation of company under the name Gangnam Street and GH Global met Greater Noida Authority officials including authority's CEO Surendra Singh and agreed to buy 22 acres of land at the Integrated Industrial Township (IITGNL) in Greater Noida.

The company officials were briefed about the smart infrastructure and plug and play system of IITGNL. They were also informed about the Automatic Waste Collection Plant and the benefits of connectivity to the Delhi-Mumbai Industrial Corridor, multimodal logistics hub and multimodal transport hub and also Yamuna Expressway and Eastern Peripheral Expressway.

"The company representatives were informed that the entire process from application to allotment will be completed online. This company will manufacture home appliances. With the establishment of this company, an investment of about Rs 500 crore will be made and 2,000 youth will get employment opportunities," Amandeep Duli, ACEO, Greater Noida Authority said.

The officer further said that the IITGNL is being developed in about 750 acres and so far five big companies are setting up their plants in this township. These include Haier Electronics, Formi Mobile, Satkriti Infotainment, Chenfeng (LED Company), J World Electronics. Another company Guru Amardas International is also going to set up its unit in Integrated Industrial Township soon, said officials.

Greater Noida Authority to launch commercial plot scheme

Apart from this, the Greater Noida Authority has planned to launch 11 plots to develop commercial complexes in the city. In a meeting held on Thursday, GNIDA CEO Surendra Singh gave detailed information about the scheme.

The CEO said that the scheme will be launched on September 26 and high rise commercial buildings will be built on the land. The allotment of plots will be done through auction. The entire process from application to allotment will be completed online. At the time of application, 10% of the total cost of the plot will have to be paid as registration amount. The remaining amount will have to be done within 90 days from the allotment.