Microsoft, MAQ Software and PepsiCo line up Rs 2,866 crore investment in UP
New Delhi : In a major push to Uttar Pradesh (UP) government’s efforts to bring investment in the state, corporate giants Microsoft, MAQ Software and PepsiCo would together invest Rs 2,866 crore to set up their units.
The fresh investment will create additional 7,500 jobs in the state and aid the economic growth.
As per an official of the state industrial department, Microsoft and MAQ Software will set up their facilities in Noida while the global food and beverage maker PepsiCo would have their unit Mathura.
The official noted that as many as 40 foreign companies have proposed to invest Rs 17,000 crore in UP in four and a half years of Yogi Adityanath government.
Attributing the proposed investment to investor-friendly policies and follow-up actions by the state government, the official said that many more investors are in talks to firm up their plan.
Companies like Adobe, Amazon, American Tower Corporation of America, Apple, Caterpillar, Delphi and Cisco are willing to invest in the state and also other parts of the country, UP’s MSME and Export Promotion Minister Siddharth Nath Singh said.
These companies expressed their intent to invest in UP during an interaction with the entrepreneurs associated with the US-India Strategic Partnership Forum.
The state government has allotted 60,000 square metres of land to Microsoft in Noida to set up its largest centre in the country which will employ 3500 people.
Similarly, world’s leading IT-ITES company MAQ India Private Limited has also been allotted 16,350 square metres of land in Sector-145 to set up its plant. The IT major will invest Rs 252 crore to set up its unit which will provide employment to around 2500 people.
PepsiCo is setting up a potato chips factory in Kosikalan, Mathura. Production at PepsiCo’s factory, which is being built at the cost of about Rs 814 crore, is likely to start this year itself. Around 1,500 people will get direct or indirect employment in this project. Potatoes to make the chips will be procured from local farmers to benefit them, said a state government press note.
