Upcoming ‘Japanese’ and ‘Korean’ cities near Jewar Airport in Uttar Pradesh
The choice to construct these cities was made in discussions with Japanese and Korean investors preceding last year's UP Global Investors Summit
Yamuna Expressway Industrial Authority Designates Sectors for Japanese and Korean Industrial Cities
The Yamuna Expressway Industrial Authority has allocated two sectors in Gautam Buddh Nagar district to establish Japanese and Korean industrial cities, as reported by Live Hindustan on Sunday. Sector 5A of the expressway will host the Japanese city, while the Korean city will be developed in sector 4A. These cities will include residential areas for their foreign staff.
With the upcoming inauguration of the Jewar airport in Noida, situated just 10 km away from the designated areas, the projects are anticipated to receive a significant boost.
The decision to create these cities was made during discussions with Japanese and Korean investors preceding the UP Global Investors Summit last year. Representatives from both countries visited the industrial sectors during the same period.
The development of these cities is estimated to cost 2,544 crore. Arun Vir Singh, CEO of Yamuna Industrial Development Authority, highlighted that the electronic hubs within these cities will house companies manufacturing chips, AI equipment, semiconductors, and cameras.
“They are being planned to be self-sufficient, with provisions for housing, schools, hospitals and other essential amenities for the Japanese and Korean citizens staying there,” TOI quoted him as saying.
Shailendra Bhatia, an Officer on Special Duty (OSD) at Yamuna Industrial Development Authority, disclosed that the sectors will feature mixed land use, with 70 percent reserved for core industry, 13 percent for commercial use, 10 percent for residential purposes, and 5 percent for institutional use.
In December last year, media reported that officials from the Yamuna Expressway Industrial Development Authority would visit Japan, South Korea, and Singapore to encourage business firms to establish units in Noida, Greater Noida, and the Yamuna Expressway region.
“We will explain the terms and conditions of different schemes, which have been launched to sell our industrial plots so that potential investors are aware of their benefits. We want to attract investors so that they set up manufacturing units of electronic products as well as medical equipment. We have a host of schemes for the medical device park and electronics hubs being developed along the Yamuna Expressway near the Noida International Airport site in Jewar”, said Arun Vir Singh, chief executive officer (CEO) of Yamuna Industrial Development Authority ahead of his visit to Japan and South Korea last year.
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