South Korean company signs MoU to set up factory in Noida

An MoU was signed between Uttar Pradesh's Galaxy Ventures and South Korea's MPK Group in presence of Chief Minister Akhilesh Yadav on Saturday to make products of pizza chain 'Mr Pizza' brand in a factory in the state's Noida.

The MoU was signed by MPK Group Chairman Jung Wu Hyun and Galaxy Ventures President PK Gupta.

The company would open 100 outlets in the country which would result in jobs for 3,000 persons.A

Lauding the initiative, the chief minister said that the Samajwadi Party government in the state was making efforts to ensure maximum investment in the state and establishing of more and more industry.

It was with this aim that his government has rolled out an investor and industry-friendly policies, he said, adding that it was a result of these policies that the investors were investing big time in Uttar Pradesh.

A large part of India's population lived in UP, Akhilesh Yadav said while pointing out how with the growing middle class, the purchasing capacity of people as also the demand for consumer goods was growing here.

Also noting the state's economy was agri-based, he said that the state government had taken a decision to implement the 'Chief Minister Food Processing Mission Scheme' for development of the sector and increase in investment.

He also expressed hope that after the joint venture is executed, unemployed youth in the state would get jobs, and assured all possible help to the project.

--IANS

md/vd