Land Transfer Record
351.43 Acres Transferred to IMC Prayagraj SPV; Four Plots Totalling 42 Acres Allotted to Investors
NICDC's project status report records that 351.43 acres of land have been transferred by the Uttar Pradesh government to the IMC Prayagraj project SPV, matched by Rs 323.09 crore in equity from NICDIT, with four industrial plots covering about 42 acres already allotted to investors — the first confirmed land-allotment activity at the site.
| Land transferred to SPV | 351.43 acres |
|---|---|
| Matching equity released by NICDIT | Rs 323.09 crore |
| Plots allotted to investors | 4 industrial plots, ~42 acres |
| Project SPV | AKIC Integrated Manufacturing Cluster Agra-Prayagraj Ltd (incorporated 30 Jan 2025) |
| Site | Karchana block / Saraswati Hi-Tech City, ~25 km south of Prayagraj |
| Land composition originally identified | 231 acres greenfield + 120 acres in Saraswati Hi-Tech City |
| CCEA approval | 28 August 2024 |
| Environmental Clearance | 10 March 2025 (SEIAA, Uttar Pradesh) |
| EPC contractor engaged | M/s RCC Developers Pvt Ltd (LoA issued 27 Oct 2025) |
What was decided
NICDC's project status report — its monthly Development Monitoring Unit (DMU) update on the National Industrial Corridor Development Programme — records that 351.43-acre land was transferred to the Project SPV by the State government, and matching equity amounting to Rs. 323.09 Crore was released by NICDIT to the SPV. The same update notes that four industrial plots admeasuring 42 acres have been allotted to investors. This is not a fresh cabinet decision but a status confirmation: it shows the state's long-pending land transfer to the SPV has now been completed, and that the SPV has begun allotting plots to industrial investors.
Which body acted, and under what structure
The transfer was executed by the Government of Uttar Pradesh, acting through the Uttar Pradesh State Industrial Development Authority (UPSIDA), into the dedicated project Special Purpose Vehicle. The matching equity came from NICDIT (National Industrial Corridor Development and Implementation Trust), the central funding arm that works through NICDC. The vehicle receiving the land and equity is AKIC Integrated Manufacturing Cluster Agra-Prayagraj Ltd, SPV was incorporated 30th January, 2025 — a single company set up jointly to implement both the Agra and Prayagraj Integrated Manufacturing Clusters (IMCs) under the Amritsar-Kolkata Industrial Corridor (AKIC). Governance flows from a State Support Agreement and Shareholder Agreement: State Support Agreement (SSA) between Government of Uttar Pradesh, UPSIDA & NICDIT for IMC Prayagraj executed on 8th November, 2024.
The land: what, where, how much
The Prayagraj IMC sits in the Karchana block of Prayagraj district, at what NICDC describes as Saraswati Hi-Tech City, located 25 km south of Prayagraj, spanning 352 acres with an investment potential of ₹1,600 crore. Before the transfer was completed, official reports through late 2025 described the land only as "identified" rather than transferred: State Govt. has identified 351 acre (231 acre greenfield & 120 acre in Saraswati Hi tech city) land for the project. The 351.43-acre figure now confirmed as transferred matches this identified parcel almost exactly, indicating the state has completed the handover of essentially the entire originally earmarked land bank to the SPV. Connectivity cited by NICDC includes prime connectivity to NH-35, NH-30, rail/EDFC, airports, and waterways, with proximity to Prayagraj Airport (24 km) and the New Karchana EDFC Station (7 km).
The investor allotments
Against this land base, the SPV has moved to its first plot allotments: 04 Industrial plots admeasuring 42 acres allotted to investors. The status report does not name the allottee companies, disclose per-acre allotment rates, or specify which sectors these four plots serve. NICDC's project description for the cluster lists the target industry mix as e-mobility, food processing, leather, garments, cycle manufacturing, and packaging, but there is no confirmation in the source material that the first four allotted plots fall in any particular one of these sectors. This means roughly 42 acres of the 351-acre parcel — about 12% — is now under allotment, with the remainder still available for future investors or reserved for infrastructure, roads and common facilities.
Approvals timeline leading to this point
The Prayagraj IMC has moved through several formal approval stages before reaching this land-transfer milestone. On 28 August 2024, the Cabinet Committee on Economic Affairs chaired by the Prime Minister approved 12 new project proposals under the National Industrial Corridor Development Programme with an estimated investment of Rs. 28,602 crore, spanning 10 states, with Agra and Prayagraj in UP among the approved nodes. This was followed by the signing of the State Support Agreement (SSA) and Shareholder Agreement (SHA) between NICDC, the Government of Uttar Pradesh, and UPSIDA on 8 November 2024, then Environmental Clearance granted by SEIAA, Uttar Pradesh on 10th March, 2025, and SPV incorporation on 30 January 2025. The project was subsequently reviewed by the Hon'ble PM during the 49th Pragati Meeting on 24th September 2025, after which the SPV moved to construction contracting, issuing LoA to the EPC contractor M/s RCC Developers Pvt Ltd on 27 Oct 2025, with a kick-off meeting with the EPC Contractor held on 11th February 2026.
Practical effect
For investors and local stakeholders, this status update marks the shift of Prayagraj IMC from a paper project to an operating land bank: the SPV now legally holds the bulk of its intended 351-acre site and has begun handing plots to industrial users, which typically triggers site-specific construction, connection to trunk infrastructure being built by the EPC contractor, and eligibility for state industrial incentives tied to UPSIDA-administered industrial areas. It does not, on the evidence available, mean trunk infrastructure (roads, power, water, drainage) is complete — the EPC contractor's kick-off meeting was held only in February 2026, so site works are still in early stages. Prospective investors should treat the 42-acre allotment as an early tranche within a larger land bank still being developed, and should confirm plot-level readiness, pricing and possession terms directly with UPSIDA/the SPV before relying on this figure for investment decisions.
Frequently asked questions
What exactly changed with this update?
The status changed from land being merely "identified" for the project to land being formally transferred to the SPV, with matching central equity released, and the first investor plot allotments recorded.
Who decided to transfer the land?
The Government of Uttar Pradesh, through UPSIDA, transferred the land to the project SPV; NICDIT matched it with equity as required under the joint Shareholder Agreement structure.
What is the SPV that received the land?
AKIC Integrated Manufacturing Cluster Agra-Prayagraj Ltd, incorporated on 30 January 2025, which jointly implements both the Agra and Prayagraj Integrated Manufacturing Clusters under the Amritsar-Kolkata Industrial Corridor.
How much land and money are involved?
351.43 acres were transferred to the SPV, matched by Rs 323.09 crore in equity released by NICDIT; four industrial plots covering about 42 acres have been allotted to investors.
Do we know which companies got the four allotted plots?
No. NICDC's status report confirms the number of plots and total acreage but does not name the allottees or state per-plot rates; this information is omitted here because it isn't in the source data.
Is trunk infrastructure ready at the site?
Not yet fully. The EPC contractor (RCC Developers Pvt Ltd) received its letter of award on 27 October 2025, and the construction kick-off meeting was held only on 11 February 2026, so site development was still in an early phase as of the latest report.
What is the total planned size of IMC Prayagraj?
NICDC's own project page describes the cluster at Saraswati Hi-Tech City as spanning 352 acres, closely matching the 351.43 acres now confirmed as transferred to the SPV.
Sources
- National Industrial Corridor Development Corporation — DMU Report, 31.05.2026
- National Industrial Corridor Development Corporation — DMU Report, 31.10.2025
- National Industrial Corridor Development Corporation — DMU Report, 30.11.2025
- Imc Prayagraj Uttar Pradesh | NICDC
- UP to set up integrated manufacturing clusters in Agra, Prayagraj to boost industrial growth - The Statesman
- NICDC & UPSIDA partner to develop key clusters in Agra and Prayagraj — PIB Press Release
- Amritsar-Kolkata Industrial Corridor (AKIC) — World Trade Scanner
- Amritsar–Kolkata Industrial Corridor - Wikipedia
- Integrated Manufacturing Clusters to be developed in Agra and Prayagraj by NICDC and UPSIA