FMCG major Hindustan Unilever to invest Rs 700 crore in UP

 

Virendra Singh Rawat

Lucknow / Dec 11, 2020

 

FMCG major Hindustan Unilever Limited (HUL) will invest Rs 700 crore to ramp up its detergent production capacity in Uttar Pradesh.

 

According to UP micro, small and medium enterprises (MSME) and export promotion minister Sidharth Nath Singh, HUL will infuse about Rs 700 crore in its detergent and Surf manufacturing plant at Sumerpur.

 

“Even during the current phase of covid-19 pandemic, the national and international investors are keen to invest in UP owing to the proactive industry outreach by the state government,” he said claiming investment proposals worth more than Rs 47,000 crore had been received by the state in recent months from Indian and foreign companies.

 

IndoSpace Capital Advisors will invest Rs 1,000 crore to set up a datacentre in the National Capital Region (NCR), Singh informed adding the Trade Promotion Council of India (TPCI) has proposed to facilitate investment of nearly Rs 1,000 crore in a mega furniture cluster in the Noida region.

 

“The V K Modi is looking to invest Rs 1,000 crore to establish a high-tech precision equipment manufacturing facility in Rampur,” he said.

 

In his recent two-day visit to Mumbai earlier this month, UP chief minister Yogi Adityanath had met top industry captains to discuss issues related to industry and investments. “During the Mumbai visit, prominent corporate houses and companies, including the Tata Group, Adani Group, L&T, Siemens, NABARD, Aditya Birla Group, Hiranandani etc evinced interest in making investments in different sectors in UP.”

 

He said the Tata Group was exploring the possibilities of investing in different segments including electronics, hotel, electric vehicle, charging stations, solar power. Similarly, the diversified Hiranandani Group is looking at education, skill development, construction and township development for possible foray.

 

Meanwhile, the cabinet minister has instructed state officials to keep the channel of discussions open with the private sector companies for addressing their needs.

 

“Of the total investment proposals worth Rs 47,572 crore garnered by the state government during the current phase of pandemic, the foreign and domestic investors account for Rs 9,858 crore and Rs 37,714 crore respectively,” Singh informed.

 

He said the state government had maintained regular contact with the ambassadors and high commissions of major countries, which helped UP attract investment from the offshore private sector companies.

 

The offshore investment proposals have emanated from Canada, Germany, Hong Kong, Singapore, United Kingdom etc. For example, two Canadian companies viz. Ekagrata and Medicom, have committed to invest total of Rs 1,746 crore in grain infrastructure equipment and medical devices facilities respectively in the state.