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Mayawati woos investors

LUCKNOW: To reverse the trend of poor industrial growth in Uttar Pradesh (about 4.6 per cent during the 10th Five Year Plan period), the Mayawati Government has chalked out an elaborate strategy to woo the investors.

Infrastructure development remains the thrust area of the State’s plans to attract investment. Over the years, industrial investment in U.P. has been negligible, considering that the industries play a pivotal role in the development of the State.

With the public-private partnership model emerging as the new mantra of development, the Mayawati Government planned to attract an investment Rs.1.33 lakh crore in the transport sector, power projects, medical sector and urban regeneration plan pertaining to the modernisation of 12 cities, including Lucknow.

Of this, the Ballia-Noida Ganga Expressway project with an investment of Rs.40,000 crore to be developed by the JP Group has already been set in motion.

The Hindon Expressway in Ghaziabad district, the Jhansi-Kanpur Betwa Expressway and the Agra-Gorakhpur Yamuna Expressway, which will run alongside the left bank of the river, are the other three road projects proposed to be developed on the PPP framework.

The concept report of the Yamuna Expressway has been prepared and its technical and financial aspects are being looked into. The land survey for the project has been started by the PWD.

Another Rs.25,000 crore is proposed to be invested in the power sector. While work on the Roza thermal power plant in Shahjahanpur district, being developed by Reliance Energy, is progressing, bids for the Bara and Karchhana power stations in Allahabad district are being formulated.

The State is hoping to attract investment by making the plea that the industrial climate has improved and the law and order situation is better than it was during the previous regime. However, industrial houses feel that the basic issue is implementation of proposals.

“Law and order is not a big issue for the industry. Political consensus on basic issues and continuity are far more important aspects,” said D.S. Verma, Executive Director of Indian Industries Association. The practice of the decisions taken by one government being set aside by the next government is a major area of concern for the industry. The business houses want a definite time frame for implementation of proposals.

The new plan would be unveiled at an investors’ meet in New Delhi this Monday.

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