Japanese & Korean Cities to Come up in Greater Noida

Torbit - March 17, 2024 - - 0 |

The Yamuna Expressway Industrial Development Authority (YEIDA) has decided to set up two international industrial cities by Japanese and Korean companies in Gautam Budh Nagar district, close to Noida International Airport in Jewar. These cities will be developed at a cost of Rs 2544 crore.

This follows meetings and discussions of investors from these countries with YEIDA authorities after the investors expressed their desire to set up Japanese & Korean cities at the UP Global Investors Summit last year. According to Arun Vir Singh, Chief Executive Officer (CEO) YEIDA, at the upcoming global cities in the vicinity of Noida International Airport, Japanese and Korean companies will set up electronic manufacturing units to produce products like AI equipment, chips, cameras, semiconductors and others. These cities coming up in two sectors in Greater Noida will also have residential areas for the staffers of Japanese and Korean companies.

The Japanese City will come up in Sector 5A off the Yamuna Eway where 395 hectares of land is being acquired. Korean City will be set up in Sector 4A over 365 hectares. These sectors will have mixed use developments. Nearly 70 percent of the area will be used for industrial purposes, 13 percent will be for commercial use. For residential purposes, 10 percent land will be allocated. Five percent land will be earmarked for institutional purposes such as hospitals, schools and colleges. Two percent of land will be utilized for developing other facilities.

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