Being part of industrial corridor, Greater Noida is expected to benefit with quality infrastructure and 1.5 lakh new jobs as authority sanctions `10 crore for two projects, reports Asit Manohar
Jatinder Singh, owner of Noida based Surjeet Engineering Company said, “Engineering industry is not doing well. Production is down by more than 30-40 percent. We have not got fresh orders for the last last quarter.” The over three decade old company, manufactures die-cutting machine, corrugated machine and allied machine. Turnover of the company is `3 crore.
Anil Kumar, proprietor of Laxmi Engineering Company shared a similar experience. “Manufacturing industry is in a very bad shape. Not only in Delhi-NCR but the situation prevails everywhere, we are not getting orders from anywhere in India.
The situation has never been so bad.
As a result, we are doing only job work for other companies.
The company that started six years ago in Noida has been manufacturing hydraulic press, hydraulic
jacks and hydraulic power pack machines.For some it is a matter of sustainability. T P Jagdish, manager, Hospital Equipment Manufacturing Company said, “We have been seeing a dull phase for the past 2-3 years.
There has been a reduction of 50 percent in the overall business. There is not much demand in the local market. We have just managed to recover our running cost which has kept us going.“With no work and rising operational cost, the things have complicated further. Jatinder Singh said, “Overheads are rising as salaries are to be given. Cost of raw material has also gone up by Rs 5 per kilogram. We use a lot of cast iron as a raw material.“Jagdish further added. GREATER Noida Integrated Industrial Township and multi-modal logistics hub at Dadri and UP is expected to bring the derailed industries back on track. The estimated investment in the DelhiMumbai Industrial Corridor and nodal logistics hub is `25,000 crore which is to be invested by 2040. Out of which, `1008 crores have been sanctioned.
“After sanctioning of `1008.95 crores for investment in two early bird projects of Delhi-Mumbai Industrial Corridor as equity of Union government, Government of UP has decided to expedite the development of industrial infrastructure under this ambitious project,“ said Udyog Bandhu spokesperson in a written press statement. The statement further added that the Government of India has sanctioned `617.20 crores for Integrated Industrial Township at Greater Noida and `391.75 crores for Multi-modal Logistics Hub at Dadri, the two projects under Dadri-NoidaGhaziabad Investment Region proposed under DMIC.
The Udyog Bandhu spokesperson went on to add, “For the development of Integrated Industrial Township at Greater Noida, the Authority will form a Special Purpose Vehicle (SPV) with Delhi-Mumbai Industrial Corridor Development Corporation Ltd (DMICDCL). In the first phase, Uttar Pradesh State Industrial Development Corporation (UPSIDC) will provide a land piece of 600 acres, and 1500 acres in the second phase as equity for this project.“ In addition to these two early bird projects, one more early bird project, namely Multi-modal Transit Hub at Boraki is also proposed under DMIC in UP , which will also be developed by forming an SPV of Greater Noida Authority and DMICDCL.