Srinagar, Apr 27 (IANS): Jammu and Kashmir Lieutenant Governor Manoj Sinha on Thursday laid the foundation stone of Kashmir Medical College and Super-Speciality Hospital being developed by Milli Trust, Delhi, at the Industrial Estate Sempora, Medicity, Srinagar.

Addressing the gathering at the ground breaking ceremony, the Lt Governor said the project is one of the biggest private sector investments in health sector of Union Territory (UT) that will improve efficiency and quality of care.

"It is a new era for private investments in J&K UT and testimony to Hon'ble Prime Minister Shri Narendra Modi Ji's commitment to make J&K UT a leading investment destination for manufacturing and service sector," said the Lt Governor.

The project worth Rs 525 crore will develop Medical College with 150 MBBS seats to fulfil the aspirations of youth, and 100-bedded hospital will provide world-class healthcare at affordable rates. The project will provide employment opportunity to 2,000 local youth.

"We have created an enabling environment for private sector for economic development, employment and income generation. The administration is deeply and sincerely committed to ease of doing business and ease of living," said the Lt Governor.