Himachal: Centre will not have stake in ₹350 cr Medical Devices Park project | Latest India News

The EU government would have no interest in this. ₹A Rs 350-crore medical equipment park will be set up at Nalagarh in Solan district as the state government has decided to build the park from its own resources and return ₹According to a statement, 300 million rupees were received from the centre.

The decision was made in the interest of the state.

The project would cover over 265 acres of land and if ₹30 crore received from the centre was not returned, land was to be given to industrialists at the rate of Rs 1 per square metre, electricity at ₹Residents will get $3 per unit, water, maintenance and storage facilities free of charge for ten years, Chief Minister Sukhvinder Singh Sukhu said.

The state government has so far issued ₹An amount of Rs 74.95 crore has been allocated for the project, said a statement issued on Saturday.

Taking into account the interests of the state and avoiding restrictions, the government decided to build the park on its own, because the project, once put into operation, will bring benefits of ₹He added that in the next five to seven years, it is expected to raise Rs 500 crore from sale of land and other resources.

The state government will take a loan from SIDBI (Small Industries Development Bank of India) under the cluster development programme for setting up the medical devices park and after restructuring the project, 25 per cent of the land will be earmarked exclusively for the medical devices industry and 75 per cent for other strategic industries, he said.

He added that the industrial park will be developed as a modern industrial hub that will become a steady source of income for the state government in the coming years and also contribute to economic development and better infrastructure.

Earlier, the state government also decided not to accept any help from any private agency for the wholesale medicine park being constructed at Haroli in Una district and will provide ₹1,000 crore from its own resources, the statement added.