04/09/2023
YEIDA seeks ₹14,000 crore from Hudco for acquiring 6,000 hectares
The Yamuna Expressway Industrial Development Authority (YEIDA) on Friday said it has decided to sign a memorandum of understanding (MoU) with the Housing and Urban Development Corporation (HUDCO) to seek ₹14,000 crore required for the acquisition of 6,000 hectares from 40 villages over the next five years. HUDCO Chairman and Managing Director Sanjay Kulshrestha and Executive Director (Delhi) SK Solanki recently met YEIDA officials to discuss the proposal. YEIDA and HUDCO are likely to sign the MoU recently in Delhi before they start working on the project, said officials. In order to arrange the adequate finance, YEIDA has already obtained ₹3,300 crore interest-free loans from the different government bodies that include the National Capital Region Planning Board and Uttar Pradesh government, among others. As per the pre-condition to obtain required funds from the state government bodies, YEIDA needs to contribute an equal amount towards land acquisition. Therefore, YEIDA is seeking to arrange funds as a loan from HUDCO, said officials. “HUDCO will help us in arranging the required funds and also be a consultant because it has huge experience and expertise in infrastructure planning and sector design. HUDCO will manage the issuance of infrastructure and municipal bonds on behalf of Yamuna authority,” said Arun Vir Singh, Chief Executive Officer, YEIDA. YEIDA will acquire the land from 40 villages including Rabupura (994 hectares), Tirthali (479 hectares), Karauli Bangar (250 hectares), Muradgarhi (336 hectares), Tappal-Bajna (771 hectares), Mudrah (290 hectares) and Kallupura (218 hectares), Mayana (252 hectares) among others. The land will be used for setting up new sectors including 5, 6, 7, 8, 9, 10, 11, besides acquiring remaining areas for 22E, 28, 29, 32, 33. Apart from these 712 lands will be acquired for Tappal-Bajna urban centre and 528 hectares in two villages (Dorpuri and Syarol) for a logistic park. The process to acquire land from four out of six villages is already under process in Sector 10, and the proposals for acquiring land in Tappal-Bajna, and for sectors like 5,6, 7 and 8 have been sent to the government, said officials.
