Emphasising that there is ample scope of industrial development in Uttar Pradesh under Delhi-Mumbai Industrial Corridor project, infrastructure and industrial development commissioner Anil Gupta said different agencies of the state government will have 51% equity, while Delhi Mumbai Industrial Corridor Development Corporation Limited will have 49% stake in the proposed Special Purpose Vehicle to develop an integrated industrial hi-tech township. In the SPV formed with DMIC, Greater Noida Authority and Bulandshahr Khurja Development Board would be participants. Gupta also said that the state government is exploring the possibility of a project on the lines of DMIC on Eastern Dedicated Freight Corridor to spur industrial development along the DMIC corridor.
Of 1,890 kilometres of the Eastern Freight Corridor Project, nearly 1,100 kilometres passes through Uttar Pradesh. The government will also set up five feeder routes measuring nearly 700 kilometres, out of 14 feeder routes proposed under Eastern Freight Corridor, in UP. Managing Director, UPSIDC, Manoj Singh also said that UPSIDC will have equity in the form of around 2,000 acre of land that is being acquired in Chola near Ghaziabad.
In a separate decision, the UPSIDC board also cleared a proposal for UPSIDC to contribute to the proposed extension of a 9.41-km Metro rail line to New Bus station and from Ghaziabad to Dilshad Garden. The board also decided that UPSIDC will generate funds for this purpose by levying Metro cess at the rate of Rs 5,000 per square metre on land in industrial areas in and around Ghaziabad.
Board of directors of UPSIDC also gave in-principle approval to make freehold of all housing land of UPSIDC. A housing policy will be formulated in this regard. IIDC, Anil K Gupta said, “It is a major policy decision and a final decision will be taken only after approval by the state cabinet combined with opinion of finance and law departments.” Gupta also issued strict directions to senior officials of UPSIDC to demand better performance in maintaining industrial estates held by corporations, within a month.