In an effort to attract multinational corporations, an AI city-cum-business park will soon be set up in Noida, after the Noida Authority on Wednesday adopted the Uttar Pradesh Private Business Park Development Scheme, 2025, officials said.

This comes a day after the Uttar Pradesh cabinet on Tuesday approved setting up a robotics and artificial intelligence park in Greater Noida.

On Wednesday, in its 224th board meeting the authority granted in-principle approval to the Request for Proposal (RFP) for selecting a master developer to develop an AI city-cum-Business Park in Noida, through a private sector participation. At least 50 per cent of the built-up area of the park is required to be reserved for IT and knowledge-based services, officials said.

According to officials, the initiative aims to foster integrated, and ready-to-operate, business infrastructure in order to attract multinational corporations, IT firms, and innovation-driven enterprises through a plug-and-play infrastructure.

“The project will include facilities for AI, Global Capability Centres, IT services, research, start-ups and skill development. It will follow the Design, Build, Finance, Operate and Transfer (DBFOT) model,” the official said, adding that the ownership of the land will remain with the Noida Authority.

The concession period for the park will be 45-years which may be extended by another 45 years, the official said, adding that the contractor will be selected through competitive e-bidding.

Officials also said that Sector 147 will house Global Capability Center hub and Grade-A office space on around 68,000 square meters of land of institutional IT/ITES, for which permission was granted to publish the land allotment plan.

Meanwhile, an integrated automobile complex on 12,596.64 square meters of commercial land in Sector 105 will be developed soon. The board also approved the final report of the City Logistics Plan prepared for Noida.

The plan, which is based on the study of industrial and commercial activities and traffic management, the official says intends to improve the efficiency of goods transport and distribution, and reduce logistics costs, traffic congestion.

“It is decided to forward it to the state government for approval,” the official said.