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5 Chinese firms seek to invest Rs 800 crore to set up factories in Greater Noida

The Greater Noida Industrial Development Authority said it is in consistent talks with farmers in the region to purchase their lands with their consent

twitter-logo PTI   Noida     Last Updated: December 6, 2019  | 08:46 IST
5 Chinese firms seek to invest Rs 800 crore to set up factories in Greater Noida

Five Chinese firms intend to get land in Uttar Pradesh's Greater Noida for setting up their manufacturing units with an investment of Rs 800 crore, officials said on Thursday.

The development comes within three months of a delegation of state government officials visiting Gungzhou, Dongguan and Shenzhen cities of China to attract investment, they said.

In pursuance of that, officials of China's Holitech India Private Limited, a component supplier of leading phone manufacturer Xiaomi, met with officials of the Greater Noida Industrial Development Authority (GNIDA) and handed over to them letters of intent of its five partner companies, according to a statement.

Holitech India, which manufactures camera, mobile screens, fingerprint scanners, flexible printed circuit, among others, already has four manufacturing units in the industrial town in Gautam Buddh Nagar, according to the statement from GNIDA.

Holitech India has already invested Rs 400 crore and hopes to pump in another Rs 1,300 crore soon, it said.

Holitech India's officials told GNIDA officials that five of its partner companies seek 100 acre industrial land for setting up manufacturing units. "They want to establish electronic companies here with an investment of around Rs 800 crore, the statement said.

GNIDA officials have assured them full support and also apprised them about subsidies and facilities offered by the UP government which could be availed by them, it added.

The GNIDA said that besides China, companies from Korean and Taiwan have also shown an interest towards investment in the region for setting up manufacturing units.

The GNIDA said it has already started working towards creating a land bank for industrial set ups and is in consistent talks with farmers in the region to purchase their lands with their consent.

About 1,500 acre land is expected to be made available for allotment on which four sectors will be developed for industrial set ups, it said in the statement.

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