UP Government signs MoU with Austin University for USD 42 Billion Smart City Project, Check Details Here

The government of Uttar Pradesh signs MoU with US-based Austin University with the aim of building a smart city of knowledge in the state. The best universities in the world will be included on a land of 5,000 acres as stated by the officials. Check more details mentioned below. 

Updated: Dec 19, 2022 13:19 IST
UP Government signs MoU with Austin University
UP Government signs MoU with Austin University

Smart City Project: The Uttar Pradesh Government has signed a Memorandum of Understanding (MoU) with the US-based Austin University for the construction of a smart city of knowledge. As per the announcement, the Smart City of Knowledge will be built in the state at a total cost of USD 42 billion. The officials further stated that this project will be initiated on 5,000 acres of land. 

Knowledge city will have some of the best universities in the world. As per the proposal, the Star Consortium will be focused on providing Data Centre and Logistics services in the state whereas the SLG Group will develop Capital Data Centre.

 

Knowledge City Investment Details

There are numerous investment proposals and agreements which were put forth in the agreement. Several employment opportunities shall be granted to the residents of the state. At the Global Investors Summit, UP Chief Minister Yogi Adityanath decides to achieve a target of investments of about Rs. 10 lakh crores in the capital of UP, Lucknow from February 10 to 12. 

As per the details, eight teams of ministers and various senior officials are visiting 18 countries to draw investment amounts through road shows and trade shows. 

Moreover, the US-based Saloni Heart Foundation has also signed an agreement in the presence of Minister Suresh Kumar Khanna and Chief Secretary (Infrastructure and Industrial Development) Arvind Kumar in San Francisco city. 

Smart City Project Expectations

On the announcement of the Smart City construction project, Ashraf Ali Mustafa, the President of Austin University, affirmed that the project is expected to completely change the image of the sector of Higher Education in India and globally. Another three agreements were also signed with FalconX CEO Murali Chirala. 

During a road show in Japan, the Director of Seiko Advance Limited, Yukinori Kobe, signed a treaty worth Rs 850 crore with the Government of Uttar Pradesh in order to set up a manufacturing unit in the Gautam Buddha Nagar area of Noida. 

Over 200 employment opportunities will be created for the inhabitants of the state. As per the media reports, there were positive results in foreign travel for attracting investments. The roadshows in Germany, Belgium and Sweden were highly prosperous in terms of investments goal. In a period of nine days, the UP government team was able to tour three countries and investment proposals worth thousands of crores of rupees were received. This round of road shows and business meetings in foreign countries will reportedly continue till today December 19, 2022.

Further, after completing the roadshow in the Netherlands, Deputy Chief Minister Keshav Prasad Maurya along with IT and Electronics Department Minister Yogendra Upadhyay is scheduled to visit France for an investment scheme on Monday. 

Also Read: Ministry of Education: Vocational Education Needs to be Integrated into all Educational Institutions

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