Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The Uttar Pradesh Defence Industrial Corridor (UPDIC) is witnessing significant progress, attracting major investments and demonstrating a commitment to make India ‘Aatmanirbhar’ (self-reliant) in the defence and aerospace sector, stated a press release from the state government.
Competitive and attractive incentives offered under the Defence and Aerospace Units and Employment Promotion Policy of Uttar Pradesh and creation of required infrastructure have resulted, so far, in attracting 114 investment intents with a proposed investment of ₹24,510.60 crore and potential employment generation of 41,667.
Significantly, 34 investment projects worth ₹3585.85 crore are ready to be included in the upcoming groundbreaking ceremony. These projects are spread across Aligarh, Jhansi, Kanpur and Lucknow nodes of the defence industrial corridor and would generate over 8,530 employment opportunities.
Among major companies which have proposed investment in defence industrial corridor include BrahMos Aerospace and Areolloy Technologies at Lucknow, Bharat Dynamics Ltd, Armoured Vehicles Nigam Ltd, Tata Technologies Ltd, Global Engineers Ltd and WB Electronics India Ltd at Jhansi, Adani Defence Systems & Technologies Ltd, Ananth Technologies and Genser Aerospace at Kanpur, Anchor Research Labs LLP and Amitec Electronics at Aligarh.
These investors have either established their units or are implementing their projects. These are major investment proposals, and not all of them will necessarily be included in the groundbreaking ceremony, the government added in the press release.
Also Read : Rajnath Singh arrives in UK for defence, security dialogue Armed Forces Medical Services & AIIMS, New Delhi collaborate to conduct combined research projects
Steel Strips Wheels (SSWL) has announced that it has received its first contract as an aluminium whe...
Mid Corporate 16-Apr-2024
India's steelmakers are requesting government action to limit raw material costs, particularly iron...
Ferrous 23-Jan-2024
Due to ongoing geopolitical challenges and declining commodity prices, goods exports in March year-o...
Press Releases 16-Apr-2024
According to data available from the GST Council for this fiscal year up to January 2024, Maharashtr...
Taxation 14-Mar-2024
The Government of India has developed guidelines for undertaking pilot projects for using Green Hydr...
Press Releases 15-Feb-2024
The London Metal Exchange should classify its nickel contracts into "clean" and "dirty" contracts to...
Australia 26-Feb-2024