LUCKNOW: On Monday, the state cabinet approved the Uttar Pradesh Private Business Park Development Scheme-2025. This initiative aims to establish world-class plug-and-play business parks designed to attract global companies, research and development centers, Global Capability Centers, and various operational hubs to the region.
The scheme focuses on providing ready-to-use infrastructure for businesses seeking to set up operations swiftly, thereby minimizing the delays and cost overruns often associated with undeveloped facilities. This is expected to significantly boost investment, employment opportunities, and industrial growth, particularly in the services and technology sectors.
According to Alok Kumar, additional chief secretary for infrastructure and industrial development, this initiative will enhance the state’s existing industrial investment strategies by establishing modern business spaces that are operationally ready. The government anticipates that these parks will attract substantial investments, create thousands of jobs, support MSMEs and startups, and foster industrial clustering.
The business parks will be developed using the Design, Build, Finance, Operate, and Transfer model, with private developers responsible for the implementation and management during the concession period. Each park will have a concession term of 45 years, which can be extended by another 45 years. After this period, the assets will revert to the state government.
The minimum land requirement for each park is set at 10 acres, although there may be flexibility based on the location and land suitability. The financial arrangements will involve an upfront land premium and a revenue-sharing model.
The application and bidding process will be managed by the relevant industrial development authority or government land-owning agency. A screening committee will assess the proposals and recommend eligible candidates, while the final decision on land allocation will lie with the competent authority.
Developers will need to provide progress and financial reports bi-annually. All tenders will adhere to state PPP guidelines and require approval from the appropriate administrative department prior to issuance.
