Srei Infra Advisory partners UP Government to rejuvenate Agra as an iconic tourist-cum-holiday
Bangalore, 1st March 2018: Srei Advisory, a division of Srei Infrastructure Finance Limited ("Srei"), and the Government of Uttar Pradesh has signed a Memorandum of Understanding ("MoU") announcing a new co-operation agreement to rejuvenate Agra as an iconic tourist-cum-holiday destination. The proposal is expected to attract investments of around Rs 25,000 crore in the state of Uttar Pradesh. The MoU was signed between Srei Advisory and the Department of Infrastructure and Industrial Development, Government of Uttar Pradesh.
Agra is notjust about the Taj Mahal. Srei Advisory will facilitate in developing the cityinto a unique tourist destination for all types of travellers. The project willaccentuate Agra's historical, cultural and heritage contours, promote lesserknown monuments and temples, and expand tourists' focal point from the TajMahal to all the three World Heritage sites in the city.
The projectwill create necessary infrastructure in hospitality, transport, city and riverfront beautification, logistic parks and warehousing with active support fromthe Government of Uttar Pradesh. Srei Advisory will also assist the stategovernment and its agencies in mobilising resources and catalysing investmentsfor creation of necessary physical, social, hospitality and recreationalinfrastructure. The project is expected to commence operations in financialyear 2018-19, subject to necessary statutory approvals and clearances.
Commentingon the development, Dr. Ratiranjan Mandal, Senior Advisor, SreiAdvisory, said: "The Taj Mahal draws millions of tourists to Agra everyyear. Hence, we have a responsibility to ensure that the city is as good as youhave heard. Also, the Taj Mahal is not the sole attraction. The legacy of theMughal Empire has left a magnificent fort and several mausoleums. We aredelighted to partner the Government of Uttar Pradesh in positioning Agra as aniconic tourist-cum-holiday destination. We would be interested in more suchopportunities to develop holistic infrastructure facilities in the state."