UP signs USD 1 billion MoU with Singapore’s SLG to set up data centre in Noida (Image source: @UPSIDA)

Photo : Twitter

“In the presence of minister Swatantra Dev Singh, another major MoU has been signed with SLG Capital Singapore for US$ 1 billion for investment and data centre establishment in Noida- Greater Noida region in UP. This will give a major boost to the development of the area,” a tweet from the Official Twitter account of Uttar Pradesh State Industrial Development Authority (CEO Noida) read.

Noida CEO Ritu Maheshwari, a 2003-batch IAS officer of UP cadre is part of a delegation led by Uttar Pradesh Minister for Jal Shakti and Flood Control Swatantara Dev Singh that is visiting Singapore ahead of the investor summit.

In yet another deal, UPSIDA said it also signed an MoU worth Rs 2000 crore with Star Consortium Private Limited Signed in Singapore for the establishment of Datacenter/Logistic services in Uttar Pradesh.

“The investment worth 2000 crores will generate employment for many people in the state,” tweeted the Authority.

UP govt’s data centre policy

UP government is establishing Noida as a data centre hub, approving a Rs 15,000 crore plan, which it hopes will generate over 4,000 jobs. In order to woo investors, the state’s data centre policies give sops such as capital subsidy, interest subvention, and stamp duty exemption, along with non-financial and power-related facilities.