UP Cabinet approves facilities to 6 mega projects

The Uttar Pradesh Cabinet today approved various concessions and facilities to six mega projects in the state that will bring an investment worth Rs 3,166 crore and employment opportunities to over 11,000 people.
The Cabinet presided over by Chief Minister Akhilesh Yadav approved extending various facilities and concessions worth Rs 3,184 crore in seven to ten years' time under the infrastructure and industrial investment policy of 2012, an official spokesman said.
Proposals worth Rs 1,328 crore from LG Electronics India limited, Rs 324 crore from M/s Sparsh Industries, Rs 272.79 crore from M/s Ashar Agro Limited, Rs 278.46 by Sukhbir Agro Energy in Shahjahanpur and another by the same firm for solar energy in Mahoba worth Rs 377.99 crore and Rs 585 crore by Benett Institute of Higher education had been received, he said.

Together these mega projects are worth Rs 3,166 crore and will create direct and indirect job opportunities for 11,645 people in the state.
As per the policy, a chief secretary led empowered committe was set up to deliberate on giving certain facilities to projects investing over Rs. 200 crores and it made some recommendations which were approved by the cabinet today, the spokesman said.
The Cabinet also recommended making another category of 'super mega projects' for units having an investment of Rs 1,000 crore and above and it was also given a nod by the cabinet, he said adding that before this, letter of comforts had been issued to eight mega projects worth Rs 7,435 crore of which Rs 2,160 crore have already been invested and two of them have started production.

In another important decision, the cabinet approved amendment in the existing policy to encourage setting up of theme parks and amusement parks and approved government guarantee for the Agra-Lucknow Expresway project to raise a loan of Rs 1,530 crore from the HUDCO, he said.