By IANS,
Lucknow : The Uttar Pradesh State Industrial Development Corporation (UPSIDC) will develop an integrated industrial township at Chola in Bulandshahr district, around 70 km from the national capital, an official said here Friday.
This would be done through a Special Purpose Vehicle (SPV) formed with Delhi-Mumbai Industrial Corridor (DMIC), Greater Noida Authority and Bulandshahr-Khurja Development Authority.
A decision to this effect was taken in a meeting of board of directors of UPSIDC held here Friday.
Infrastructure and Industrial Development Commissioner (IIDC) Anil Kumar Gupta said the Chola project “held enormous promise of unlocking the potential of Uttar Pradesh”.
“Different agencies of the state government will have 51 percent equity, while DMICDCL (Delhi-Mumbai Industrial Corridor Development Corporation Ltd) will have 49 percent stake in the proposed SPV to develop integrated industrial hi-tech township”.
“We are also exploring the possibility of a project on the lines of DMIC on the Eastern Dedicated Freight Corridor to spur industrial development along it,” he added.
Of the total length of 1,890 km of the eastern freight corridor project, around 1,100 km falls in Uttar Pradesh.
Moreover, five feeder routes measuring around 700 km will be developed in the state out of a total 14 feeder routes proposed under the Eastern Dedicated Freight Corridor.
On the proposed industrial township on DMIC, Managing Director of UPSIDC Manoj Singh said the corporation would have the equity in the form of about 2,000 acres of land that was being acquired in Chola near Ghaziabad.
The board also approved the proposal on tye corporation’s contribution to the cost of proposed project that seeks to extend 9.41 km of Delhi Metro rail line from Dilshad Garden to New Bus Station in Ghaziabad.
It was decided that UPSIDC would generate funds by levying a Metro Cess at the rate of Rs.5,000 per square metre on land in industrial area in and around Ghaziabad.
Board of directors of UPSIDC also gave in-principle approval to make freehold the housing land of UPSIDC barring industrial land.