Lucknow, 6 June. Uttar Pradesh Expressways Industrial Development Authority (UPEDA) has canceled the allotments of three companies allotted land in Aligarh Phase-1 Defense Node of Uttar Pradesh Defense Industrial Corridor. This action has been taken due to the companies not starting construction work and industrial activities even after almost five years have passed.
According to UPEDA, this step has been taken under the policy of the state government, under which timely investment, accountability and effective utilization of land reserved for defense and aerospace manufacturing is being ensured. The authority said that the companies concerned could not move forward with their projects within the stipulated time frame despite repeated reviews and monitoring.
Officials say long delays in projects were hampering prospects for industrial growth and job creation. After compliance review, UPEDA completed the process of canceling the allotment under the provisions of the lease agreement. UPIDA Chief Executive Officer Deepak Kumar said that Uttar Pradesh Defense Industrial Corridor is a project of national importance and the land available within it is a strategic resource for defense manufacturing.
He clarified that only those investors will be able to retain the land allotment who show seriousness towards getting the projects off the ground within the stipulated time frame. The authority has indicated that regular review of projects will continue in future also and strict action will be taken against allottees who do not comply with the prescribed conditions. This is expected to give impetus to investment and industrial activities in the Defense Corridor.
It is noteworthy that the canceled allotments include Jai Sai Anu, which got 4.5 hectare land for a proposed investment of Rs 100 crore in July 2021, Navraj Metals, which got 1.6 hectare land with a proposed investment of Rs 20 crore in June 2021, and PBM Insulations, which got 0.4 hectare land for an investment of Rs 4 crore in June 2021.
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