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    UP to acquire 760 hectares for Japanese, South Korean cities in Noida

    The nodal agency Yamuna Expressway Industrial Development Authority (YEIDA) will take up land in the Gautam Buddha Nagar district for the proposed industrial townships of Japan and South Korea.

    The nodal agency Yamuna Expressway Industrial Development Authority (YEIDA) will take up land in the Gautam Buddha Nagar district for the proposed industrial townships of Japan and South Korea.

    To set up segmented Japanese and South Korean industrial parks in Noida, the Uttar Pradesh government plans to buy some 760 acres of land.

    As per the plan for the Japanese and South Korean industrial cities, the nodal agency Yamuna Expressway Industrial Development Authority (YEIDA) will purchase land in the Gautam Buddha Nagar district.

    Further, to develop twin cities of Japan and South Korea YEIDA will expend over Rs 2,500 crore to build two cities of 395 hectares and 365 hectares respectively.

    These hubs are well placed to lure manufacturers of these countries to establish units in UP to meet the domestic as well as international market, a senior official in UP government opined.

    During the UP Global Investors Summit (GIS) 2023 when deliberations were held with investors from Japan and South Korea the proposal to develop the cities was made.

    The Yogi Adityanath government has already got a good signal from the investors.

    “Since the two mega industrial townships will be established in the vicinity of the proposed Jewar International Airport we feel it would pave the way for the flow of big foreign investment, especially electronics and IT,”.

    UP to acquire 760 hectares for Japanese, South Korean cities in Noida

    Earlier, the YEIDA CEO Aun Vir Singh said that the cities will focus on manufacturing electronic products like AI equipment, microchips semiconductors, etc.

    The UP FDI policy, perfect connectivity, and the growth possibility in relation to Noida-NCR also lure companies to pledge investment investment in the state.

    Further, the authority is proposing to get around 6,000 hectares of land on both sides of the Yamuna Expressway for development around the international airport. The Land Acquisition over the next two years for YEIDA is pegged at Rs 14,000 crore.

    1,600 hectares will be directly purchased from the land owners and 3,981 hectares will be assembled through the acquisition of land. From this total area, only 400 hectares are owned by the government, which will be leased for the reclamation.

    YEIDA has estimated the need for almost Rs 63 thousand crore for the development of basic infrastructure such as roads, power, and civic amenities to acquire 6000 hectares of land.

    This is to make it ready for urbanization — industries, townships, and commercial arcades.

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