Noida: Aiming to increase international investment in the state, the Noida authority, on Friday, handed over land for commercial development to Swedish furniture giant 'IKEA'. A Memorandum of Understanding (MoU) was signed between Noida authority and IKEA, in virtual presence of Uttar Pradesh Chief Minister Yogi Adityanath, sealing an investment deal of Rs 5,500 crore in the coming seven years to generate employment for thousands of people in the state.
Following the MoU signing ceremony, Chief Minister Yogi Adityanath through a tweet congratulated Noida Authority and IKEA for signing up the MoU. "I am confident that IKEA's decision to invest in Noida, Uttar Pradesh will prove to be a decisive factor in their own investment growth manifold," the CM tweeted. The CM also lauded NOIDA, Greater Noida and Yamuna Authority area as the best areas for investment purposes in the whole country. He also said that some of the best proposals are coming up in future for investment in the state.
The CM emphasised that Uttar Pradesh has become a center of attraction for national and international investors due to its investment-friendly, transparent and systematic policies. "With the creation of many jobs in the region, it will prove to be helpful in making 'Ease of Living' perfect" the CM tweeted.
Detailing over the new development, Noida authority's chief executive officer (CEO), Ritu Maheshwari, informed that the authority received Rs 850 crores against allotment of commercial land in sector 51 to INGKA Centers India Private Limited, the owner of IKEA retail brand. She also said that the land allotment has also generated a stamp duty revenue worth Rs 56 crores to the Uttar Pradesh government.
"The company will be developing shopping mall, hotel, offices and retail areas in an area of around fifty thousand square meters which will give direct employment to around two thousand people. An Overhead Commuter Connection will also be constructed by the company between sector 51 and sector 52 metro stations which will facilitate commuters to interchange between Noida's Aqua metro line and Delhi's Blue line. Also, a rotary will be constructed along the allotted land by the company to ensure that the traffic is not disrupted" said Maheshwari.
As per a statement from Noida authority, the authority has always remain focused on generating Foreign Direct Investment (FDI), in respect to which, the Noida authority has allotted a total of 1,095 industrial/commercial/institutional plots since 2017 thus generating an investment worth Rs 12, 931 crores and providing employment to more than 15,000 people.
Meanwhile, CEO, Ritu Maheshwari has also issued show cause notice and imposed fine worth Rs 10 lakhs on UP State Bridge Corporation Limited after an iron bar from pillar number 28 at under-construction Banghel elevated road got collapsed and two labourers received minor injuries while working at the site on Friday. A senior authority officer said that one labourer received minor injury in leg while another had bruises in back and both of them are on rest at their homes after receiving first-aid.