UP industrial development body grants approval for issuing unique IDs to 4 logistics projects

Lucknow, Dec 15 (PTI) Taking a significant step towards strengthening the logistics and warehousing sector in the state, the Uttar Pradesh State Industrial Development Authority (UPSIDA) on Monday approved the issuance of unique IDs to four major logistics projects.

The four projects together propose a capital investment of approximately Rs 1,100 crore, an official statement issued here said.

The implementation of these projects will not only expand logistics infrastructure but also generate large-scale direct and indirect employment opportunities across the state.

The approval to issue unique IDs to four projects was granted during a high-level meeting to review logistics project proposals, the statement said.

This administrative step is considered a crucial milestone in bringing the projects to the ground level.

Under the approved proposals, logistics and warehousing units are planned to be established by M/s OWM in Varanasi, RP & Sons in Moradabad, M/s AMT in Lucknow and M/s Reciprocal.

These projects will strengthen the state's modern storage and distribution network, it said.

These projects have been approved under the Uttar Pradesh Warehousing & Logistics Policy-2022, which offers investors financial incentives, tax exemptions, and other facilitation measures.

This has helped create an investment-friendly ecosystem in the state.

So far, UPSIDA has approved a total of 45 projects that will be developed over nearly 650 acres of land, with a proposed investment of Rs 11,610 crore.

The state government aims to establish Uttar Pradesh as a strong "Logistics Hub". To achieve this, multi-modal logistics hubs, warehouse clusters, cold storage chains and distribution centres are being promoted.

UPSIDA Chief Executive Officer Vijay Kiran Anand said the approval of unique IDs for the four projects will accelerate the process of converting investments into on-ground execution.

He reiterated UPSIDA's commitment to delivering policy incentives to investors in a simple, transparent and time-bound manner. In the coming period, further large-scale investments in the logistics sector will be encouraged. PTI ABN ABN KSS KSS