UP got Rs3lakh-crore biz bids at Davos

Lucknow: UP secured investment proposals worth nearly Rs2.92 lakh crore at the 56th World Economic Forum (WEF) annual meeting in Davos, Switzerland, finance and parliamentary affairs minister Suresh Khanna said on Tuesday during a press conference at Lok Bhawan.He said the UP delegation held 119 high-level meetings with 55-56 leading global companies, resulting in 31 memoranda of understanding (MoUs) across sectors including data centres, green energy, waste-to-energy, defence, logistics, manufacturing, EVs, pharmaceuticals, healthcare, tourism and artificial intelligence. "These MoUs mark a significant step in positioning UP as a leading investment destination on the global map," he said.
The biggest MoU was signed with Netherlands-based company AM-Green for a 1-gigawatt AI-based data centre in Greater Noida, with an estimated investment of Rs2.1 lakh crore by 2028. Other agreements included a Rs200 crore MoU with ASR Technology and discussions with Uber on expanded mobility partnerships and the potential establishment of a global capability centre (GCC).In the renewable energy sector, MoUs worth thousands of crores were signed, including rooftop solar and battery storage projects (Rs1,000 crore), hybrid electric vehicle plants (Rs1,100 crore), solar manufacturing (Rs10,500 crore), and a green manufacturing park with a 3GW solar cell module and 60MW solar plant (Rs3,800 crore). Partnerships with NTPC Green Energy and REC Ltd for green hydrogen and agriculture waste-to-energy projects (Rs8,000 crore) were also announced.Manufacturing and industrial investments included a Rs4,000 crore commitment by Rashmi Metaliks for a 1MTPA integrated steel plant. Talks were held with AB InBev, Godrej, Philip Morris International, Schneider Electric, DuPont and Ramco Group. Pilot projects were proposed in Jhansi, Lucknow, Noida and Varanasi, including solar unit testing.Discussions with global technology firms such as Google, Tech Mahindra, Cisco, Deloitte and Google Cloud focused on AI, data centres, digital governance, skill development and mobility solutions. Healthcare and pharma companies, including Bayer Consumer Health and AGLT Technologies, explored opportunities in agro-processing, diagnostics, research and life sciences.Khanna highlighted that chief minister Yogi Adityanath's governance, law-and-order measures and infrastructure development significantly boosted investor confidence.The UP pavilion, part of the India Pavilion under the ‘Partner with India' theme, remained a major attraction for investors throughout the 4-day event. Over 3,000 global leaders from 130 countries, including more than 60 heads of state, participated in the forum. The UP team included industrial development commissioner Deepak Kumar, CEO Invest UP Vijay Kiran Anand and NEDA director Indrajeet Singh.