The agreement reached in Davos will open new avenues in AI, energy and defense sectors, investment of Rs 9750 crore will be made in UP.

Lucknow, Amrit Thoughts: There has been a big achievement for the state on the front of global investment. The state government has paved the way for investment worth Rs 9,750 crore by signing MoUs with various companies at the World Economic Forum (WEF) conference that started in Davos, Switzerland. These investments will give new impetus to strategic sectors like clean energy, artificial intelligence and defense in the state.

On the first day of the conference, the state government delegation signed an MoU worth Rs 8000 crore with SAIL Industries Limited. Under this, 20 plants of 500 MW capacity will be set up in the state to generate electricity from agricultural waste. Each plant will be of 25 MW and will be set up in 16 identified paddy producing districts. In these plants, electricity will be generated using stubble and paddy residue, which will benefit farmers along with environmental protection. Apart from this, an investment agreement of Rs 1,600 crore has been signed with Sify Technologies. The company will set up an artificial intelligence based and renewable energy powered data center in Noida. Advanced air-cooling technology will be adopted in this centre, which will significantly reduce water consumption. Along with this, the plan to develop AI City in Noida has also been agreed upon. Positive initiatives have also been taken regarding investment in the defense sector. An investment agreement of Rs 150 crore has been signed with a foreign company, which will boost defense product manufacturing in the state.

State government delegation active

The Uttar Pradesh government delegation led by Finance Minister Suresh Kumar Khanna, Infrastructure and Industrial Development Commissioner Deepak Kumar, Chief Minister’s Office Secretary Amit Singh, Invest UP CEO Vijay Kiran Anand and UPNEDA Director Inderjit Singh are participating in the Davos conference going on from 19 to 23 January. The delegation put forward investment proposals in areas such as digital transformation, renewable energy, food processing and automation in roundtable meetings with other global companies.