Summary:
"This will help promote the development of the two regions that have been lacking, improve industrial climate of the state and also generate employment. "The government is yet to complete the land acquisition for Purvanchal Expressway which is proposed to be constructed at an overall cost of over Rs 23,000 crore (including land acquisition cost).Sources said UPEIDA has set a deadline of 36 months for expressway construction. "The state government plans to establish at least 10 industrial parks along the expressway to give thrust to industrialisation and development of east UP region and the state," he told TOI on Friday.The expressway connecting Lucknow with Ghazipur passes through nine districts including Amethi, Faizabad and Azamgarh. LUCKNOW: When Prime Minister Narendra Modi inaugurates the Purvanchal Expressway on Saturday, he would be opening the doors for industrialization of the economically backward east UP region as the state government proposes to set up 10 industrial parks along the 340 km stretch.Additional chief secretary (information) and UP Expressways Industrial Development Authority (UPEIDA) chief executive officer, Awanish Awasthi said that the process of identifying land for the industrial parks would start soon. An air strip is also planned on the expressway near Sultanpur.The state government had recently announced a number of incentives including 100% stamp duty waiver for the setting up of private industrial parks in stateThe state cabinet had also announced that 50% interest on land circle rate, up to a maximum of Rs 50 lakh, will be borne by state government for a period of seven years.Also, the state government will bear 60% interest, up to a maximum of Rs 10 crore per year or Rs 50 crores for seven years, whichever is low, on loan taken by industrial park developer for developing infrastructure.Awasthi said that government is planning to set up industrial parks along Purvanchal Expressway while it has already been decided that defence corridor would come up along Bundelkhand Expressway..