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IKEA gets 50,000 sqm land to set up outlet in Noida, likely to invest Rs 5,000 crore in seven years

IKEA gets 50,000 sqm land to set up outlet in Noida, likely to invest Rs 5,000 crore in seven years
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IKEA gets 50,000 sqm land to set up outlet in Noida, likely to invest Rs 5,000 crore in seven years

IKEA will get 50,000 sqm land to arrange outlet in Noida, prone to make investments Rs 5,000 crore in seven years

The industrial land has been allotted to the corporate in Sector 51 for Rs 850 cr. Officers estimate job creation for two,000 individuals because of the challenge

IKEA gets 50,000 sqm land to set up outlet in Noida, likely to invest Rs 5,000 crore in seven years

Representational picture. Reuters

Noida: IKEA was on Friday handed over a land parcel measuring almost 50,000 sq metres in Noida the place the Swedish furnishings big is about to begin its first retail outlet in Uttar Pradesh, based on officers.

The allotment, which has been made in Sector 51, was transferred by the Noida Authority that obtained Rs 850 crore from IKEA for the industrial land, they mentioned.

The switch was made throughout a programme held right here within the presence of high Noida Authority and IKEA officers, whereas Uttar Pradesh chief minisiter Yogi Adityanath and UP cupboard minister Satish Mahana joined the occasion nearly from Lucknow.

The corporate is anticipated to speculate Rs 5,000 crore in Noida in seven years, Noida Authority CEO Ritu Maheshwari mentioned that officers estimate job creation for two,000 individuals because of the challenge.

“In dignified presence of CM Yogi Adityanath and minister Satish Mahana, the Noida Authority handed over land for industrial growth to IKEA.

“The Authority obtained Rs 850 crore in opposition to the land and IKEA shall make investments round 5,000 crore within the challenge in coming seven years and generate employment for a lot of,” Maheshwari tweeted.

IKEA India CEO Peter Betzel, CFO Preet Dhupar and UP chief secretary RK Tiwari, amongst others, additionally joined the programme, based on the Noida Authority.

Adityanath expressed happiness over IKEA beginning work in Noida and projected Uttar Pradesh as a state stuffed with younger crowd and an enormous market.

“IKEA will make a shopping center, resort, workplace, retail outlet, and so forth, in Noida for the frequent man. Moreover creating many roles within the area, the step will show helpful in the direction of the ‘ease of residing’ idea,” he tweeted.

In one other tweet, he mentioned, “Heartfelt congratulations to IKEA and the Noida Authority for the memorandum of understanding. I’m assured that IKEA’s resolution to put money into Noida, UP will show to be a decisive issue of their funding and development.”

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