As, Uttar Pradesh Chief Minister Yogi Adityanath waives off the stamp duty of Samsung, which it had to pay for the lease of land and sets up the Rs 4,900 crore project in Noida, it paves its path to welcome more business into Uttar Pradesh.
This is the first mega project under Yogi-government to get such big help. Adityanath is likely to announce new industrial policy this month as major departments gave a presentation on the same to the CM on Wednesday. A senior UP government official said the upcoming industrial policy of UP would focus firmly on “employment generation” and “attracting investment” through simplification of procedures and offering an atmosphere of “safety, good law and order and availability of power.”
A notification issued by the UP Governor, and accessed by ET said that, “on May 27, the Yogi government had remitted the stamp duty chargeable on the instruments of conveyance and on the instruments of lease of land executed in favour of Samsung as a ‘Mega Project’ with a view to “providing special facilities and concessions by the state government.”
The South Korean company has procured a site in Sector 81, close to its existing plant in Noida, doubling the area from 130,000 sq. m. for the project. Two senior UP ministers, Satish Mahana and Suresh Rana, were present at the ceremony of the Samsung project in Noida where the company plans to invest Rs 5000 crore to double its mobile phone production capacity.
In a press statement Samsung said that the the investment proposal was recently approved by the UP government under its Mega Policy. UP industry development minister Satish Mahana blamed the former government saying that, the Samsung project could not be established earlier because of difficulties under the Akhilesh Yadav regime.
“Like the speed and efficiency with which UP government has given all clearances and support to Samsung for a major expansion in NOIDA. Rs 5000 cr and 5000 jobs,” NITI Aayog CEO Amitabh Kant tweeted on Wednesday.
Like d speed & efficiency with which UP Govt has given all clearances & support 2 Samsung 4 major expansion in Noida.Rs 5000 cr & 5000 jobs pic.twitter.com/Z9g4QvWEdS
— Amitabh Kant (@amitabhk87) June 7, 2017