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UP govt signs MoU with Austin University to build 'Smart City of knowledge' worth $42 billion

According to an official statement, the state government and the university have joined hands to build the Knowledge City on 5,000 acres of land worth USD 42 billion to include the best universities in the world. 

UP govt signs MoU with Austin University to build Smart City of knowledge worth USD 42 billion gcw
First Published Dec 19, 2022, 5:25 PM IST

An agreement to build a "smart city of knowledge" project in the state for an investment of USD 42 billion was inked by representatives of Austin University and the Uttar Pradesh government in advance of the Uttar Pradesh Global Investors Summit. The agreement was signed between the officials of Uttar Pradesh and Austin University, Texas, which included Austin University, President Ashraf Al Moustafa.

Uttar Pradesh Minister Suresh Khanna, former minister Sidharth Nath Singh, Additional Chief Secretary for Infrastructure and Industrial Development Arvind Kumar and others were present at the occasion.

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The investment will be provided over time in instalments, with the first instalment of USD 7 billion being issued initially and then, the rest will be increased accordingly.

"It is going to be in UP. It is a USD 42-billion project built on 5,000 acres of land. It will have the best universities coming up inside the project. Hopefully, it'll change the idea of higher education in India and other places," Ashraf Al Moustafa, President of Austin University, said.

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The citizens of the state will have access to thousands of employment possibilities thanks to these investment proposals and MoUs.

It is noteworthy that Yogi Adityanath, the chief minister of Uttar Pradesh, has set a goal to bring in investments worth Rs. 10 lakh crore through the Global Investors Summit, which will take place in Lucknow from February 10 to 12. To do this, CM Yogi has dispatched eight teams of ministers and officials to 18 different nations to conduct road shows and trade fairs in an effort to entice investment.

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