The Yamuna Expressway Industrial Development Authority (YEDA) has decided to develop and allot residential factories for setting up of industries. These will be allotted on rental basis to companies who will set up with minimal capital.
“The flat factories (ready-made building spaces to house factories) are for those who do not have enough capital to purchase land, set up a factory and start their business near Noida International Airport. With the flat factories, the Uttar Pradesh government wants to encourage those who want to innovate but do not have much financial backing to execute their ideas. They can rent flat factories at fair rents and start their business in the industrial cluster near the airport,” said Arun Bir Singh, CEO, Yeda.
The two factories will be developed on five acres each and come up in Sectors 28 and 29 near the Yamuna Expressway for the medical devices and apparel sectors respectively.
The authorities have allocated Rs 300 crore for the apartment factories, which will have 240 units each. The planning department is finalising the size of each factory, which will range from 60 sq metres to 120 sq metres.
“The two factories will be developed on five acres each and will be set up in Sectors 28 and 29 near Yamuna Expressway for the medical equipment and apparel sectors respectively. The authorities have allocated Rs 30 crore for the flat factories and each factory will have 240 units. The planning department is finalising the size of each factory and it will range between 60 sq metres to 120 sq metres,” the CEO announced.
