GREATER NOIDA: Its closeness to the national capital, good infrastructure and the Centre’s Make in India initiative together could soon turn the Yamuna expressway zone into a manufacturing hub of electronic products.
As many as 12 major Japanese, Korean and Chinese electronic goods firms have expressed interest in setting up units along the expressway, and have sent delegations to explore possible sites for their plants.
PC Gupta, CEO of Yamuna Expressway Industrial Development Authority (YEIDA), said talks with some of these firms are in the final stages. The authority could soon sign a memorandum of understanding to start work. He said names of companies will be disclosed once a deal is finalized, adding that delegations of two firms had already visited twice and could close a deal as soon as this week.
“The companies are world leaders in their sectors and are into manufacturing mobile phones, LED lights, televisions, solar pumps and auto parts. One of the companies already has a huge plant in Neemrana, Rajasthan, and is in the process of finalizing a deal to establish a similar-sized plant here,” he said.
Gupta attributed the emergence of YEIDA as an attractive proposition for industries to the affordable land prices when compared to the rest of NCR. “The area has good connectivity with Delhi and has several five-star properties close by, which can house the company top brass,” he said.
A senior executive of a leading mobile phone firm, after surveying a dozen sites across India, said they have zeroed in on YEIDA for their manufacturing plant. “We’re getting better options here as it has ample land to suit our needs, world-class infrastructure like the F-1 track, swimming pools, golf clubs, etc, and offers good connectivity,” the official said, adding the only thing lacking is an international airport.
Apart from manufacturing firms, other multinational groups have also expressed interest. They have surveyed sites near Filmcity to set up recreational projects. Gupta said Disney has shortlisted two sites, Aligarh and YEIDA, to establish an amusement park on the lines of Disney World.
The manufacturing units also offer hope to other industries in the area. Real estate firms said it could boost the sector. “It’s good if world class firms come to Yamuna expressway. This will boost the economy, specifically the real estate sector, which is reeling from a slump,” said S S Bhasin, MD of Bhasin group.