Greater Noida: YEIDA Allocates Land To Minda Corp, Polynormas; Over 2,000 Jobs Expected

The Yamuna Expressway Industrial Development Authority (YEIDA) on Monday allotted industrial plots to Minda Corporation Limited and Polynormas Industries. The industries are set to be established in Sector 10, Greater Noida, with investments of over Rs 600 crore. 

YEIDA CEO Rakesh Kumar Singh handed over the allotment letters to representatives of both companies. The initiative will generate employment opportunities for over 2,000 people. 

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To take advantage of the proximity to Noida International Airport, investors are continuously investing in YEIDA. Acting on an investment proposal submitted to the government by Minda Corporation Ltd., YEIDA has allotted 23 acres of land to the company in Sector 10 on Monday to set up its unit. A subsidy has been provided in the land allotment under the state government's Fortune 500 company policy. 

The unit to be established will produce approximately 48,00,000 units of wiring harnesses and other related connection systems. The company will invest Rs 522.279 crore in the YEIDA area, providing direct and indirect employment to young people. The company has previously been allotted a plot in the YEIDA area. 

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Additionally, YEIDA has also allotted a 10,000 square metre plot to Polynormas Industries, which is set to invest Rs 75 crore in the YEIDA area. This will employ 500 to 600 people. The unit to be established will manufacture polymer compounds for fridges, washing machines, two and four-wheeler vehicles, LED lighting, MCBs and electrical equipment.

Present on the occasion of handing over the allotment letters were Amit Jalan, Head of Corporate Affairs for the Minda Group; YEIDA ACEO Nagendra Pratap Singh; and OSD Shailendra Bhatia.