UPEIDA cancels three allotments in def node

Times News Network

Lucknow: The Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) has cancelled land allotment of three companies in the Aligarh phase one defence node of the Uttar Pradesh Defence Industrial Corridor (UPDIC) for failing to commence construction and industrial activities nearly five years after receiving land.

“The action is part of the state govt’s efforts to ensure timely investments, accountability and optimal utilization of land earmarked for defence and aerospace manufacturing,” said official source.s. In an official statement, UPEIDA said the companies had failed to meet project implementation commitments despite repeated monitoring and reviews.

The cancelled allotments include 4.5 hectares allotted to Jai Sai Anu in July 2021 for a proposed investment of Rs 100 crore, 1.6 hectares allotted to Navraj Metals in June 2021 for a Rs 20 crore investment, and 0.4 hectares allotted to PBM Insulations in June 2021 for a proposed investment of Rs 4 crore.

Officials said prolonged delays adversely affected industrial development and employment generation in the corridor. Following a compliance review, UPEIDA initiated cancellation proceedings under lease agreement provisions.

UPEIDA CEO Deepak Kumar said the defence industrial corridor is a project of national importance and land within it is a strategic resource meant for defence manufacturing. The authority reiterated that only serious investors adhering to prescribed timelines would be allowed to retain allotments in the corridor.