The Yamuna Expressway Industrial Development Authority (Yeida) on Wednesday said a US-based company has sought 1,200 acres to develop an “American City” project –an international standard educational institute having facilities for performing arts and cultural ethos — near the Noida greenfield international airport in Jewar, along the 165km Yamuna Expressway that connects Greater Noida with Agra.
Yeida chief executive officer Arun Vir Singh said the proposal has been granted in-principle approval and the officials concerned have been directed to provide 1,200 acres of land in sectors 22D, 22E, 5, and 5A along Yamuna Expressway.
“The US based company met us on Tuesday and sought 1,200 acres for setting up an international standard educational institute having facilities for performing arts and cultural ethos. Some of the top US universities will partner in the venture. US-based consultancy firm Blue Sky Vantage represented the universities and submitted the proposal,” said Singh.
Blue Sky Vantage was not available for comment on the issue.
Yeida officials said the American company wants to invest four billion US dollars in the next six years in this mega educational project.
“After visiting several cities, they decided to buy land in our area and expressed their intention to develop an “American City” spread over 1,200 acres of land. They aim to have at least 1,000 acres with mixed land use for development with multiple usage components, including economic activity ventures, commercial towers and institutions of international repute,” said Singh.
Yeida officials said the consortium has also requested 100 acres each in Sector 22D and 22E for group housing and a university, respectively.
Yeida also issued a letter of intent (LOI) for 100 acres of institutional land in Sector 22E for the university, which aims to include management schools alongside facilities for sculpture, dance, drama, theatre, and an entertainment hub.
“They want to invest around ₹800 crore in this 100 acre project in Sector 22E. We have sought a final approval from the state government before finalising the project. The US delegation is already in touch with state authorities, and we will announce the project soon, once the modalities are chalked out,” said Singh.
Yeida has already made public its plans to set up a Korean City in Sector 4A and a Japanese City in Sector 5A.
“The Japanese City will come up on 395 hectares, while the Korean City will be set up on 365 hectares in Sector 4A. The proximity to the Noida airport in Jewar is expected to give these two projects a boost. The cities will also have residential units for company staff from these countries,” said Singh.
Yeida said these mega projects will offer multiple services under one roof, including housing, schools, hospitals, and other essential amenities for the Japanese and Korean citizens staying there.
The decision to establish the two cities was taken during meetings with investors from Japan and Korea ahead of the UP Global Investors Summit last year. Several delegations had flown down to hold discussions on the projects over the next few months.
