• Source:JND
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The Yamuna Expressway Industrial Development Authority (YEIDA) has allocated two sectors in Gautam Buddh Nagar district for the development of Japanese and Korean industrial cities. The cities will host companies from the two countries, as well as residential units for their foreign staff, reported Live Hindustan. 

The Japanese city will occupy 395 hectares in Sector 5A of the expressway, while the Korean city will cover 365 hectares in Sector 4A. The authority CEO, Arun Vir Singh, said the cities will have electronic hubs with firms producing chips, semiconductors, AI equipment and cameras. He added that the cities would be self-sufficient, with facilities such as housing, schools, hospitals and other amenities for the Japanese and Korean citizens living there.

''They are being planned to be self-sufficient, with provisions for housing, schools, hospitals and other essential amenities for the Japanese and Korean citizens staying there,'' CEO Arun Vir Sigh said as quoted by TOI.

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The project is expected to benefit from the proximity of the Noida International Airport in Jewar. In addition, exemptions in land costs and stamp duties pave the way for ‘Japanese’ & ‘Korean’ cities.

According to Shailendra Bhatia, an OSD authority, the land use in these townships would be diverse, with the majority (70 per cent) reserved for core industry and a smaller portion (13 per cent) for commercial activities. The rest of the land would be distributed among residential (10 per cent), institutional (5 per cent), and other (2 per cent) purposes, such as hospitals, schools, colleges and so on, reported TOI.

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The decision to build these cities was made during meetings with Japanese and Korean investors before the UP Global Investors Summit last year. The representatives of the two countries also visited the industrial sectors last year. The cities are estimated to cost 2,544 crore to develop.