Advertisement
When should a housing society in Mumbai start considering re...
From GST on JDAs to SEBI’s REIT reclassification and the S...
Stay ahead in the world of real estate with our daily podcas...
Stay ahead in the world of real estate with our daily podcas...
Uttar Pradesh's Invest UP and Northern Railway's Lucknow Division signed an MoU to boost the state's industrial and logistics infrastructure. The agreement allows investors to lease railway land at a concessional rate of 1.5% of the industrial or circle rate for 35 years to develop warehousing and logistics facilities. Chief Secretary Manoj Kumar Singh highlighted that improved logistics, including seven operational expressways, will accelerate industrial growth. The MoU supports sustainable transport by requiring rail use for either raw materials or finished goods. This partnership aligns with the UP Warehousing and Logistics Policy 2022, offering incentives for projects investing over Rs.20 crore. Ongoing projects include the Dadri logistics hub and Varanasi's freight village.
A memorandum of understanding (MoU) was signed earlier this week at Lok Bhawan between Invest UP and the Lucknow Division of Northern Railway in an effort to improve Uttar Pradesh's industrial and logistics infrastructure. The agreement was signed by Invest UP CEO Vijay Kiran Anand and Rajneesh Kumar Srivastava, Senior Divisional Operations Manager of Northern Railway's Lucknow Division, as per an official statement. Advertisement
The MoU facilitates the leasing of railway land to investors at a concessional rate of 1.5 per cent of the prevailing industrial or circle rate for a tenure of 35 years. The initiative is aimed at enabling the development of warehousing and logistics facilities, thereby reinforcing multimodal connectivity throughout the state.
Chief Secretary Manoj Kumar Singh underscored the coordinated efforts between the state government and Railways to position Uttar Pradesh as a premier industrial hub by establishing logistics hubs, dry ports, and multimodal parks. He highlighted that the state already boasts seven operational expressways, with more in the pipeline, and emphasised that better logistics will expedite industrial expansion.
Following the MoU signing, officials deliberated on implementation strategies, focusing on public-private partnerships and integrating land data into the PM Gati Shakti portal to attract potential investors. A key stipulation in the agreement mandates that at least one segment of transportation, whether raw materials or finished goods, must be carried out via the Railways, thus fostering sustainable logistics practices.
The partnership aligns with the UP Warehousing and Logistics Policy 2022, offering incentives such as stamp duty exemptions, land-use conversion benefits, capital subsidies, and electricity duty waivers for projects investing a minimum of INR 20 crore.
Currently, Uttar Pradesh is advancing several logistics infrastructure projects, including the Dadri multi-modal logistics hub and India's inaugural freight village in Varanasi. With over 16,000 km of rail network, the state is also focusing on logistics hubs along the Yamuna Expressway Industrial Development Authority (YEIDA) region, cargo complexes near the Jewar Airport, and clusters like Film City, Toy Park, Apparel Park, and Medical Device Park. Additionally, the defence industrial corridor, with nodes in regions like Jhansi and Auraiya, is under development.
With substantial projects underway, including the multi-modal logistics hub in Dadri and the freight village in Varanasi, Uttar Pradesh is positioning itself as a key player in India's logistics sector. The emphasis on rail-linked transportation not only promotes cost-effective logistics but also underscores the state's commitment to sustainable industrial growth.
Source - PTI
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
