The Uttar Pradesh government plans to invest Rs. 125 crore (US $ 14.6 million) to build a flatted factory in Greater Noida. The project is a component of the state’s strategy to reach the Rs. 1 trillion (US $ 11.67 billion) economic target and intends to assist the MSME sector.
An official statement claims that the initiative supports heavy industries and micro, small and medium-sized businesses (MSMEs) in line with the state’s plan to become an industrial hub.
A multi-story industrial building intended to accommodate multiple manufacturing units within a single structure is called a flatted factory. Production, assembly, and storage are among the tasks carried out by each unit, which operates autonomously.
MSMEs benefit greatly from this kind of facility, which provides ready-to-use industrial spaces in locations with restricted land availability. Flatted factories may operate efficiently in a small space because they have the necessary infrastructure, including water, power, lifts, HVAC, and fire safety elements.
The plan for the flatted factory, which will be situated in Sector 28 of Greater Noida, Gautam Buddha Nagar, Uttar Pradesh, was created by the Yamuna Motorway Industrial Development Authority (YEIDA).
The project is expected to cost Rs. 125 crore (US $ 14.6 million) in total. The flatted factory will be more than 38,665 square meters in size.
Preparatory work, including the master plan and associated documentation, is ongoing, according to the statement. Within two years, construction is expected to be finished.
According to the statement, the facility is also anticipated to boost regional economic activity, attract investment, and create jobs, especially for young people.
