"EIL inked a memorandum of understanding (MoU) to this effect at the UP Investors Summit in Lucknow on Wednesday," the company said in a statement, adding it has committed to an investment of Rs 3,000 crore for bringing out 1,000 E-buses from intrastate UP to the National Capital Region.
The company said that it will invest Rs 500 crore for development of e-rickshaws with battery charging and swapping stations.
It will put in another Rs 750 crore for development of bus terminals in the state, the statement said.
The proposed investments will generate over 54,000 employment activities in the state, said Essel Group Chairman Subhash Chandra.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
