<p>The Karnataka Cabinet today approved setting up of the country's first Integrated Machine Tool Industry Park in Tumkur district at a cost of Rs 447 crore.<br /><br /></p>.<p>The project at Hosa Narsapur, a joint venture between the central and state governments, will come up on 500 acres with a central government grant of Rs 125 crore, state Law and Parliamentary Affairs Minister T B Jayachandra said.<br /><br />The park will be a cluster of machine tool builders, makers of accessories, components and foundry, among others, and will help small and medium scale enterprises to expand their manufacturing capacities, he said.<br /><br />Once functional, it is expected to boost domestic turnover of machine tools and savings in imports and forex, he added.<br /><br />The park is expected to create more than 4,000 jobs in manufacturing and administrative fields, Jayachandra said.<br /><br />The central government on February 1 had approved five projects with a grant of Rs 175 crore related to the capital goods space for companies including this project.<br /><br />The Minister said the state cabinet also approved a proposal to hand over on lease Government Hospital at Udupi to Abu Dhabi-based entreprenuer B R Shetty to develop it into a multi-speciality hospital.<br /><br />The 70-bed government hospital would be upgraded to 200 beds and would offer health services at reasonable rates, Jayachandra said.</p>
<p>The Karnataka Cabinet today approved setting up of the country's first Integrated Machine Tool Industry Park in Tumkur district at a cost of Rs 447 crore.<br /><br /></p>.<p>The project at Hosa Narsapur, a joint venture between the central and state governments, will come up on 500 acres with a central government grant of Rs 125 crore, state Law and Parliamentary Affairs Minister T B Jayachandra said.<br /><br />The park will be a cluster of machine tool builders, makers of accessories, components and foundry, among others, and will help small and medium scale enterprises to expand their manufacturing capacities, he said.<br /><br />Once functional, it is expected to boost domestic turnover of machine tools and savings in imports and forex, he added.<br /><br />The park is expected to create more than 4,000 jobs in manufacturing and administrative fields, Jayachandra said.<br /><br />The central government on February 1 had approved five projects with a grant of Rs 175 crore related to the capital goods space for companies including this project.<br /><br />The Minister said the state cabinet also approved a proposal to hand over on lease Government Hospital at Udupi to Abu Dhabi-based entreprenuer B R Shetty to develop it into a multi-speciality hospital.<br /><br />The 70-bed government hospital would be upgraded to 200 beds and would offer health services at reasonable rates, Jayachandra said.</p>