Davos 2026: Essar Group will invest Rs 25,000 crore in UP, agreements worth Rs 2.5 lakh crore in WEF

Lucknow, Read: New doors of investment have opened for the state in the World Economic Forum conference held in Davos, Switzerland. The delegation has signed a Memorandum of Understanding (MoU) with two major companies for investment of Rs 25,200 crore in the state. In this, Essar Group will invest Rs 25,000 crore in the state, while AS Technologies will invest Rs 200 crore. The special thing is that in the first three days of the conference itself, investment proposals worth about Rs 2.5 lakh crore have been agreed upon for the state.

In a meeting held between the state government delegation and top officials of Essar Group during the conference on Thursday, the group agreed to invest in the fields of power and energy systems, logistics and warehousing and data centres. According to Invest UP officials, continuous dialogue was going on with the Essar Group for the last two months, as a result of which this big investment proposal has now become a reality.

AS Technologies signed MoU regarding investment. The group has decided to establish a Global Capability Center in the state. Through this centre, multinational companies will be provided support in advanced IT services, digital transformation solutions and innovation-based capacity building. This is likely to create high skilled employment opportunities in the state. Additionally, NTPC Green Energy Limited has signed a non-financial MoU with the state government for development of renewable energy and green hydrogen projects. This agreement is being considered helpful in taking Uttar Pradesh forward in the direction of clean energy and green industrial development.

On the fourth day of the conference, the Uttar Pradesh delegation held detailed meetings with several global companies and organizations regarding investment in areas such as AI and digital innovation, green hydrogen, global finance, advanced manufacturing, infrastructure development, clean-tech and healthcare. Representatives of many reputed institutions including HCL Tech, BlackRock, Google, BCG, Indian Oil, Gavi – The Vaccine Alliance participated in these meetings. The state government delegation is participating in Davos under the leadership of Suresh Khanna.