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 March 25, 2016

According to Daily News Analysis (DNA) report dated 15.03.2016, the Essel Group will invest Rs 8,500 crore in various projects in Uttar Pradesh. Essel Group chairman Dr Subhash Chandra made the announcement after an hour-long meeting on Monday with UP chief minister Akhilesh Yadav who underlined the group’s role in the state’s development. The Essel Group chairman also met Samajwadi Party chief Mulayam Singh Yadav and former MP Amar Singh.

Last year, ESSEL Group had promised to invest Rs 10,000 crore in UP. As they have already made investments of Rs 1,500 crore, the balance Rs 8, 500 crore will be invested this year. The group had committed the Rs 10,000 crore investments at an investors’ meet hosted by UP last year.

“Going by the speed with which the Akhilesh government takes decisions, I think the investment would be even more than Rs 8,500 crore,” said the Chairman.

According to the officials, the chairman had discussed a wide range of projects including road construction, solar power, power transmission, Gomti river front development, side development on the 302-kilometre Lucknow-Agra Expressway and also on other state highways.

“The Essel Group has already done a lot of work in solar power projects in Bundelkhand.” The solar power unit, spread over 250 acres, has been set up by Essel Infraprojects Limited (EIL) under the levelised power tariff scheme.

“Asked whether he would bring a project like the famous “Essel World” to UP, he said the group was planning even bigger projects for the state.”

Both Akhilesh Yadav and Mulayam Singh were all praise for the Essel Group chairman commending his commitment to development. “Dr Subhash Chandra and his companies are already a part of virtually every household in UP, whether it’s through their media network or other businesses,” Akhilesh Yadav said. “We want the Essel Group to have an even bigger presence in UP.”

Uttar Hamara applauds Government of Uttar Pradesh and Dr Subhash Chandra for this promising outlook towards UP.

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