Shimla, Sep 25 (IANS): Himachal Pradesh has been sanctioned a medical devices park, first in north India, by the Central government with the grant-in-aid of Rs 100 crore, said Chief Minister Jai Ram Thakur.

Thakur thanked Prime Minister Narendra Modi for sanctioning the park to be developed in Nalagarh in Solan district where land measuring 265 hectares has been identified.

The Union Ministry of Chemicals and Fertilizers had notified the guidelines of the Promotion of Medical Devices Park scheme that aimed to set up four medical devices parks in the country.

The Chief Minister said the estimated cost of this park would be Rs 266.95 crore and Rs 160.95 crore would be borne by the state government.

He said the state was expecting an investment of over Rs 5,000 crore with a turnover of Rs 20,000 crore and gainful employment for about 10,000 people.

The park will give big boost to the second stage of industrialization apart from producing consumer goods, Thakur said, adding that it would have industries producing capital goods such as plants and machinery, etc.