1. Yamuna Expressway Industrial Authority designates sectors in Gautam Buddh Nagar for Japanese and Korean industrial cities, per the report.
2. Sectors 5A and 4A along the expressway were chosen for Japanese and Korean city setups, offering offices for companies and residential areas for foreign staff.
3. Move expected to boost development near Jewar airport, scheduled for inauguration soon.
Noida, Feb 26: The Yamuna Expressway Industrial Authority has earmarked sectors in the Gautam Buddh Nagar district for the establishment of Japanese and Korean industrial cities, according to a report.
Set to be located in Sector 5A and Sector 4A of the expressway respectively, these cities will host offices of companies from Japan and South Korea, with residential areas planned for foreign staff.
With the Jewar airport set to be inaugurated in Noida, merely 10 km away from the proposed city sites, the projects are poised to receive a significant boost.
The decision to construct these cities was made following meetings with Japanese and Korean investors ahead of the UP Global Investors Summit last year.
Representatives from both countries also inspected the designated industrial sectors during their visit.
The development of these cities is estimated to cost 2,544 crore. Arun Vir Singh, CEO of Yamuna Industrial Development Authority, outlined plans for the electronic hubs, stating that they would accommodate firms engaged in manufacturing chips, AI equipment, semiconductors, and cameras.
Additionally, these cities are envisioned to be self-sufficient, featuring housing, schools, hospitals, and other essential amenities for Japanese and Korean residents.
Shailendra Bhatia, an Officer on Special Duty (OSD) at Yamuna Industrial Development Authority, shared details about the land allocation within these sectors.
He mentioned that 70% of the area would be designated for core industry, 13% for commercial use, 10% for residential purposes, and 5% for institutional use.
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In December last year, officials from the Yamuna Expressway Industrial Development Authority embarked on a trip to Japan, South Korea, and Singapore to encourage businesses to establish units in Noida, Greater Noida, and the Yamuna Expressway region.
Arun Vir Singh, CEO of Yamuna Industrial Development Authority, expressed the aim to attract investors by elucidating the benefits of various schemes launched to sell industrial plots in the region.
He emphasized the intent to lure investors to set up manufacturing units for electronic products and medical equipment, particularly in the vicinity of the Noida International Airport site in Jewar.
