Five Indian-owned firms from UAE are going to revamp UP’s infrastructure

That UAE has a lot of super rich and super successful Indians is not a hidden fact, and in a bid to do something for their country while benefiting from the huge scopes of returns on investment, five such leading Indian-owned businesses in the UAE will be investing over $3.68 billion in infrastructure and industrial development initiatives in the state of Uttar Pradesh (UP). For this, an MoU has been signed during an investment forum held in Dubai.

Akhilesh Yadav, the Chief Minister of UP, had earlier launched what he called an ambitious programme to boost the all-round development of the state, which was to be done by attracting NRI investments from across the globe, with a special focus on the Middle East.

The companies have pledged to invest in the upcoming manufacturing, utilities and healthcare initiatives in the state, and their names will be made public in the coming weeks.

It was a few months back that the Abu Dhabi-based Lulu Group had announced its decision to invest Rs 1000 crore to set up a shopping mall, convention centre and five-star hotel in the state, which would also create more than 3,000 jobs once it is completed.

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