Davos: Uttar Pradesh (UP) reinforced its investment appeal at the World Economic Forum (WEF) Annual Meeting 2026, signing multiple high-value memoranda of understanding (MoUs) spanning waste-to-energy, compressed biogas (CBG), and steel manufacturing. The agreements highlight the state’s strategy to convert global engagements into bankable industrial commitments, while focusing on sustainability, green energy, and large-scale manufacturing.
₹8,000 Crore Waste-to-Energy Initiative
Among the major announcements, REC Ltd, a state-owned enterprise, signed an MoU to develop 500 MW of agriculture waste-to-energy projects in Uttar Pradesh. Key details include:
- Investment Value: ₹8,000 crore
- Focus Areas: Farm residue management, decentralized power generation, cleaner energy sourcing, and rural employment
- Benefits: Reduction in stubble burning, increased farm incomes, and support for agri-based energy integration into the state’s power mix
The initiative reflects UP’s commitment to the circular economy and sustainable energy transition.
Read also: Uttar Pradesh Diwas 2026 to Be Celebrated with Grand Statewide Participation from January 24–26
₹4,000 Crore Steel Manufacturing Investment
In the manufacturing sector, Rashmi Metallurgical Pvt. Ltd. committed to investing ₹4,000 crore to establish a 1 million tonnes per annum (MTPA) integrated steel plant in the state. The project aims to:
- Strengthen UP’s position in value-added steel production
- Support downstream industrial clusters in construction, infrastructure, and engineering goods
- Boost overall industrial growth and manufacturing capacity
Compressed Biogas, Briquetting, and Carbon Monetisation
UP’s clean energy push also saw significant commitments in CBG and carbon initiatives:
- Carbon Compass Services LLP: MoU for ₹820 crore investment in briquetting and compressed biogas plants, including ₹30 crore for carbon credit monetisation
- Renergy Dynamics Pvt. Ltd.: Establishment of CBG plants with 70 tonnes per day processing capacity, aligned with the Centre’s SATAT initiative and India’s Net Zero 2070 target
- Benefits include additional income for farmers through agri-waste aggregation and promotion of sustainable fuel alternatives
Global Corporate Engagement Expands Investment Pipeline
Beyond formal MoU signings, the UP delegation held high-level meetings with international and Indian corporations, including:
- Tech Mahindra, Schneider Electric, Grundfos, Be8, Godrej, Philip Morris International, Adecco, Kübler Group, Rashmi Group
- Academic engagement: Stanford University
Key areas of discussion included:
- Clean technology solutions
- Industrial infrastructure development
- Water management and sustainability
- Skilling and innovation-led development
Global giants like AB InBev and Cisco IT also explored potential partnerships and investments in the state.
Strengthening Uttar Pradesh as an Industrial & Green Energy Hub
The WEF engagements reaffirm Uttar Pradesh’s vision for industrial growth with a focus on sustainability and technology-driven development. By attracting strategic investments across renewable energy, manufacturing, and green innovation, the state aims to:
- Create employment opportunities
- Promote clean and decentralized energy solutions
- Position UP as a preferred destination for global investment and industrial partnerships
