PICUP signs MoUs with SREI infra for advisory services

Lucknow, Jan 14 (UNI) Pradeshiya Industrial and Investment Corporation of UP Ltd (PICUP) has entered into an MoU with Kolkata-based advisory firm SREI Infrastructure Finance Ltd on non-exclusive basis.

PICUP is the nodal agency for implementation of Public-Private-partnership (PPP) model in the state.

SREI will work as co-consultant with PICUP to facilitate investment and infrastructure development and capacity building in the state.

PICUP signed another MoU with Lucknow Industrial Development Authority (LIDA) for providing advisory services based on PPP model for the development of 50-75 per cent of the 2,000 acre of land, acquired in the first phase.

The Uttar Pradesh government had recently identified an industrial corridor between Lucknow and Kanpur and has set up LIDA for speedy development of a Hi-tech Industrial Township.

Speaking on the occasion here, MP and Chairman of Uttar Pradesh Development Council Amar Singh said, ''Keeping in view the fast changing dynamics of infrastructural and industrial development, a change-oriented approach on the part of government to assume the role of a facilitator with active participation of private sector as the main player is required. Only then progress can be sustained.'' Mr Singh claimed that if PPP model is implemented in right earnest the state stands to gain a lot.

''Partnerships with private sector would enable the public sector and society at every level to benefit from commercial dynamism, innovation and efficiencies, harnessed through private expertise, skills and experience. However, we need a tailored approach towards this concept according to the changing times and projects,'' added Industrial Development Commissioner Govindan Nair.

PICUP managing director Sudhir Garg said, in the present scenario with rapidly growing vast cities like Lucknow, Kanpur, Varanasi, Agra and Allahabad it was imperative for the private sector to actively participate and provide its expertise to keep up pace with the increasing demand of infrastructural facilities and industrial growth with public sector working as a catalyst.

An ex-IAS, Executive Director, SREI, R Mandal said in textile sector there was immense scope for India to develop and promote export-oriented units (EOUs).

UNI