The Mayawati government has already invited Expressions of Interest (EoI) for creation of the Project Development Special Purpose Vehicle (PDSPV) to implement the project. To “reduce the time span” for studies prior to selection of developers, the UP government has integrally invited the EoI and Request for Proposal (RPF).

The Pradeshiya Industrial and Investment Corporation of Uttar Pradesh Ltd (PICUP) will partner the PDSPV. A project development fund of Rs 20 crore will be created with contributions from PICUP and the Project Development Consultant Partner.

To ensure profitability of the project, the selected private developer will also get rights to property development, real estate, industrial parks. While state owned land will be transferred to the developer as per state rules for private investment, the remainder of the required land will have to be acquired by the developer at his own cost.