UP inks Rs.2.50L crore MoUs; 2 with US firms
LUCKNOW, Jan. 24 -- Amid trade tensions with the United States, the Uttar Pradesh government's delegation at the World Economic Forum (WEF-2026) annual meeting in Davos signed more than 25 MoUs, including two with American firms.
The five-day 56th annual meeting in the Swiss town of Davos concluded on Friday on a positive note for Uttar Pradesh, with investment commitments of over Rs 2.50L crore through the pacts signed by the state delegation, according to officials.
A key highlight for the delegation, led by finance minister Suresh Khanna, was the signing of two MoUs with US companies amid strained trade ties between India and the United States.
The delegation signed a Rs.150-crore MoU with US company 'Yeoman for Weapons Systems Integration and Manufacturing'. The second MoU worth Rs.200 crore was signed with California-based 'SA Technologies' to set up a Global Capacity Centre (GCC).
The largest investment commitment came from Indian firm AM Green, which signed an MoU worth between Rs.1.24 lakh crore and Rs.2.07 lakh crore to establish an AI infrastructure hub in the Greater Noida region. The project will be developed in phases, with the first capacity expected by 2028 and the full 1GW capacity targeted by 2030.
The MoUs have also been signed with 23 Indian companies, three with Singapore-based firms, two with US companies, and one each with firms from Sweden, Australia and the United Kingdom.
The second-largest investment commitment was from the Essar Group, which pledged Rs.25,000 crore, including Rs.20,000 crore for a power project and Rs.5,000 crore for a logistics park.
The third-largest MoU, worth Rs.10,500 crore, was signed with the Noida-based Inox GFL Group, which plans to set up a 2GW solar power project and a 3GW solar module manufacturing plant in the state. The fourth major investment, valued at Rs.8,000 crore, was signed with New Delhi-based SAEL for waste-to-energy projects.
Khanna was accompanied by infrastructure and industrial development commissioner Deepak Kumar; Amit Singh, secretary in the chief minister's office; Vijay Kiran Anand, secretary of the infrastructure and industrial development department and CEO of Invest UP and UPSIDA; and Inderjit Singh, special secretary, energy department, and director of UPNEDA....
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