Srei Infra Advisory, UP govt partner to rejuvenate Agra

Srei Advisory, a division of Srei Infrastructure Finance Limited (Srei), and government of Uttar Pradesh on Friday signed a Memorandum of Understanding (MoU) announcing a new co-operation agreement to rejuvenate Agra as an iconic tourist-cum-holiday destination.

The proposal is expected to attract investments of around Rs. 25,000 crore in the state of Uttar Pradesh.

MoU was signed between Srei Advisory and the Department of Infrastructure and Industrial Development, government of Uttar Pradesh.

"The Taj Mahal draws millions of tourists to Agra every year. Hence, we have a responsibility to ensure that the city is as good as you have heard. Also, the Taj Mahal is not the sole attraction. The legacy of the Mughal Empire has left a magnificent fort and several mausoleums. We are delighted to partner the government of Uttar Pradesh in positioning Agra as an iconic tourist-cum-holiday destination. We would be interested in more such opportunities to develop holistic infrastructure facilities in the state," said senior advisor Srei Advisory, Dr. Ratiranjan Mandal.

Srei Advisory will facilitate in developing the city into a unique tourist destination for all types of travellers.

The project will accentuate Agra's historical, cultural, and heritage contours, promote lesser known monuments and temples, and expand tourists' focal point from the Taj Mahal to other world heritage sites in the city.

Srei will create necessary infrastructure in hospitality, transport, city and river front beautification, logistic parks and warehousing with active support from the government of Uttar Pradesh.

The company will also assist the state government and its agencies in mobilising resources and catalysing investments for creation of necessary physical, social, hospitality and recreational infrastructure.

The project is expected to commence operations in financial year 2018-19, subject to necessary statutory approvals and clearances.