UP named Aditya Birla Group's highest investment destination

ANI | Updated: Feb 21, 2018 15:06 IST

Lucknow (Uttar Pradesh) [India], Feb 21 (ANI): Aditya Birla Group Chairman Kumar Mangalam Birla on Wednesday hailed Uttar Pradesh (UP) as the company's key investment destination, with funds allocated to the tune of Rs. 25,000 crore in the next five years.

"Uttar Pradesh has been an early investment destination for Aditya Birla Group, as it possesses a huge pool of human resource and its proximity to the NCR helps the growth of services sector. We have invested around Rs. 24,000 crore so far, set up 15 manufacturing plants, and directly employed 40,000 directly people. We will be investing Rs. 25,000 crore in the next five years," he said at the UP Investors' Summit here.

Furthermore, Birla said accelerated industrialisation, coupled with an industry-friendly government has enhanced the potential of the state, making it attractive to investors.

"The government has shown its keenness towards improving infrastructure, connectivity, industrial output and Ease of Doing Business in the state. It has also made significant strides towards improving the power supply situation and created private industrial parks. This will be crucial for the state's development," he said.

Adding to this, Adani Group Chairman Gautam Adani hailed Chief Minister's Yogi Adityanath's commitment towards developing the state, adding that his discipline and way of working was "exactly what UP needed."

"UP's success has the power to spur India's growth. Yogi Adityanath's leadership, discipline and way of functioning is just what the state needs, and is a role model for other state governments," he said at the Summit.

Talking about the Adani Group's investment plans for the state, the top businessman announced an investment to the tune of Rs. 35,000 crore over the next five years.

Other plans of the company for the state include a state-of-the-art grain silos with six lakh tonnes storage capacity to upgrade domestic storage of food grains, an integrated food and agriculture complex, a multimodal logistics park, a 1000MW solar project, a solar park of 500MW capacity, full range of high volt transmission lines, multidisciplinary university, skill development center and initiatives to support development of road and metro rail projects.

Meanwhile, the Summit is being attended by at least 5,000 people including industry heads from India and abroad, Union Ministers, Chief Ministers, policy makers and academics, and aims to further the cause of economic development in the state and attract investments. (ANI)

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