The Yamuna Expressway Industrial Development Authority (YEIDA) on Wednesday announced that an American company plans to invest $4 billion in an educational project over the next six years. According to the Noida authorities, the US-based company has sought 1,200 acres of land for the development of the ‘American City’ project.
This initiative aims to establish an international-standard educational institute featuring performing arts and cultural activities. This project will be located near Noida Greenfield International Airport at Jewar along the Yamuna Expressway, connecting Greater Noida to Agra.
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In-Principle Approval Granted
YEIDA Chief Executive Officer Arun Vir Singh said that the proposal has been received in-principle approval. Additionally, the concerned officials have been instructed to provide the requested 1,200 acres in sectors 22D, 22E, 5, and 5A along the Yamuna Expressway respectively.
Singh said the US-based company officials met him on Tuesday and expressed their intention to set up an international educational institute near the upcoming Noida Airport. Some of the top US universities will collaborate on this venture, he added.
🚨 A US firm seeks 1,200 acres to develop an 'American City' project near the upcoming Noida airport and plans to invest $4 billion: YEIDA. pic.twitter.com/HVorKYx9DI
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He further stated that the US firm ‘Blue Sky Vantage’ represented the universities and submitted the proposal.
Major Investment Planned
YEIDA authorities said that the American company plans to invest $4 billion in the significant educational project over the next six years. Singh added, “After exploring various cities, they chose our area and intend to develop an ‘American City’ encompassing 1,200 acres of land.
Their vision includes at least 1,000 acres with mixed land use, featuring components for economic ventures, commercial towers, and institutions of international repute, he added.
In addition to the above, the consortium has also sought an additional 100 acres each in Sector 22D for group housing and in Sector 22E to establish a university.
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