UP pushes ₹70,000-cr infrastructure projects

The UP state government is set to launch infra projects worth ₹70,000 crore for which the MoUs were signed during the 2017 investors' summit. Of the 300 projects that are being launched in July, two are worth ₹12,000 crore. Samsung, which opened up the world's largest mobile manufacturing factory in Noida last year, has planned an incremental investment of ₹2,000 crore. Pepsico has pledged an investment of Rs 1,100 crore, while ITC will be spending ₹700 crore on a manufacturing unit for fast moving consumer goods. Other companies expected to participate include Haier, Lava and Vivo. The Aditya Birla group is setting up a ₹6,000 crore cement plant in Mirzapur, and Azure will set up renewable energy plants across the state to produce about 1,000 MW of solar power. In July 2018 the state government had inaugurated work on 81 projects worth ₹60,146 crore, seven of which projects accounted for 68% of the total investment.