NOIDA: With the state cabinet, headed by chief minister Yogi Adityanath, clearing the scheme of financial incentives for data centres on Tuesday, Yamuna Expressway Industrial Development Authority (YEIDA) is ready to launch its data park scheme in July.
According to the officials, 100 acres of land is earmarked for the data centre park in Sector 28 and the land identification work is complete.
YEIDA CEO Arun Vir Singh said, “Ten plots with ten acres each will be built in the Data Center Park. There are several well-known companies willing to build a data park and are in talks with the authority. It will bring investment worth crores in the coming days. Companies will be given incentives as per the UP Data Centre Policy 2021 to set up offices here.”
Under the Data Centre Policy, data centre units will get a 7% capital subsidy, up to a maximum of Rs 10 crore, on the fixed capital investment, excluding land and building. It will be disbursed within 10 years. Likewise, they will be eligible for subsidies on interest, besides exemptions in stamp duty and electricity duty.
The officials further mentioned that 40,000 youths will be employed in the construction of the data centre park. To expedite the process of land allotment to the companies coming to the data park will be done under the fast track land allotment policy. This policy is likely to be announced by the state government in July.
