Austin University to invest $42 bn for a smart city project in Uttar Pradesh

San Francisco [US], December 18 (ANI): As a run-up to the Uttar Pradesh Global Investors Summit, the officials of Uttar Pradesh government on Sunday signed an agreement with officials of Austin University to build a 'smart city of knowledge' project in the state for an investment amounting to USD 42 billion.
The agreement was signed between the officials of Uttar Pradesh and Austin University, Texas, which included Austin University President Ashraf Al Moustafa.
Uttar Pradesh Minister Suresh Khanna, former minister Sidharth Nath Singh, Additional Chief Secretary for Infrastructure and Industrial Development Arvind Kumar and others were present on the occasion.
The investment will be made in instalments and the first instalment of USD 7 billion will be released and then, the rest will be increased accordingly.
"It is going to be in UP. It is a USD 42-billion project built on 5,000 acres of land. It will have the best universities coming up inside the project. Hopefully, it'll change idea of higher education in India and other places," Ashraf Al Moustafa, President, Austin University, said.
In another development, the Uttar Pradesh also signed an MoU with US-based Saloni Heart Foundation in San Francisco. UP Min Suresh Khanna and Additional Chief Secretary for Infrastructure and Industrial Development Arvind Kumar were present during the signing of the agreement. The delegation also included former Minister SN Singh and Advisor to the CM Awanish Awasthi. The state government, along with US-based Saloni Heart Foundation, will build a hospital which would be a centre of excellence for treating children suffering from complicated heart diseases in Uttar Pradesh and the surrounding states. The amount of investment is yet ascertained for the time being.

In November, a curtain raiser to the Uttar Pradesh Global Investors Summit was attended by eminent personalities from the national and international industries, representatives of industrial associations, and representatives of several public sector companies.
Uttar Pradesh will organise the Summit in Lucknow from February 10 to 12, 2023, UP Chief Minister Yogi Adityanath said during the curtain-raiser event.
"Uttar Pradesh is currently at the pinnacle of a progressive transformational journey under the guidance of Prime Minister Narendra Modi. The vision of a 'self-reliant' India set by the Prime Minister is the main pillar of this rejuvenation. Uttar Pradesh has set a goal of USD 1 trillion, following the Prime Minister's plan to grow India's economy to USD 5 trillion," CM said.
The chief minister said that this to-be-held Summit would prove useful in providing a unified platform to the global industrial world for cooperation in economic development. (ANI)