Yamuna Authority receives a massive investment boost, with Minda getting a 23-acre plot and Polynomus to set up a 75-crore factory, providing employment to over 3,000 people
Two major companies have made significant investments in the Yamuna Authority area. The authority has allotted a 23-acre plot to Minda Corporation Limited, while Polynomus Industries will also set up a factory worth ₹75 crore (750 million rupees). This will provide employment to over 3,000 people.
Investments in the Yamuna Industrial Development Authority area are steadily increasing. To accelerate industrial development in the region, two major companies, Minda Corporation Limited and Plenomus Industries, have announced significant investments. This will open up employment opportunities for thousands of young people in the future.
On Saturday, Yamuna Authority CEO Rakesh Kumar Singh handed over the allotment letter for a 23-acre industrial plot to Minda Corporation Limited. The company's Executive Director, Akash Minda, Corporate Affairs Head, Amit Jalan, and senior officials from the authority were present.
The project will bring in an investment of ₹522.279 crore and generate over 2,000 direct and indirect jobs in the region. Subsidy benefits will also be available under the Uttar Pradesh government's Investment Promotion Policy.
Minda Corporation already operates 27 production units in India, Italy, Vietnam, Indonesia, and Japan and is a leading manufacturer in the EV, electronics, mechatronics, and auto component sectors.
Polynomus Industries will also set up a factory worth Rs 75 crore.
Meanwhile, Polynomus Industries has announced plans to establish a new manufacturing unit with an investment of ₹75 crore (approximately $1.75 billion).
The company manufactures advanced polymer compounds used in everyday products and various industries, including refrigerators and washing machines, two-wheeler and four-wheeler components, LED lighting, MCB electrical systems, electric irons, and computer and laptop components.
Polynomus also supplies raw materials to several major Indian electronics, home appliance, and automobile companies. Its establishment here will create employment opportunities for over 1,000 people.
Big employment opportunity
Yamuna Authority CEO Rakesh Kumar said that due to the Jewar Airport, Film City, Logistics Park, and Industrial Corridor, investor interest is rapidly increasing here.
The simultaneous investment of two major companies will give a new direction to industrial development in the region and will become a major source of employment for local youth.