Dehra (Himachal Pradesh), Jan 25 (IANS): A technical park would be developed in Himachal Pradesh's industrial hub Baddi in Solan district at an expenditure of Rs.147 crore, Chief Minister Virbhadra Singh said Saturday.

Speaking at a state-level function here in Kangra district to mark the Himachal's 43rd year of statehood, he said a regional centre of the Indian Institute of Foreign Trade would be set up in Shimla for studies of small and medium enterprises at a cost of Rs.50 crore.

New industrial areas would be developed in Solan, Una and Kangra districts, he said.

Virbhadra Singh said the central government has extended central capital investment subsidy for the state till March 2017 and a more liberal freight subsidy scheme has been introduced in place of the earlier transport central subsidy scheme.

He said this would give a much needed boost to the pace of industrialisation in the state.

On this occasion, the chief minister distributed 25 digital notebooks among meritorious students of class 10 and 12 under the state's Rajiv Gandhi Digital Students Scheme.

He said a total of 5,000 notebooks would be distributed among the students.

On channelization of the Swan river in Una district, adjoining Punjab, the chief minister said work has been started on Rs.922.48 crore river channelization project under which all the 73 rivulets of the river would be channelized. This would help reclaiming 7163.49 hectares.

He said a detailed project report of Rs.179.59 crore has also been approved by the union water resource ministry for channelisation of Chhonch Khud in Indora tehsil of Kangra district.

Earlier, the chief minister unfurled the national flag and took salute at an impressive march past.

A colourful cultural programme was presented by troupes from different parts of the state.