SAS NAGAR (MOHALI): In its first investment outside of the United Kingdom, the King’s College London will invest Rs 1,000 crore in Punjab’s healthcare sector.
“The King’s College London will be investing Rs 1,000 crore in medical college and hospital in New Chandigarh. We have chosen 28 acres of land for the campus. It is for the first time in the past 100 years that the college is collaborating with someone outside the UK,” said Prof Mike Parker, chairman of King’s College Hospital (India), during the second edition of Progressive Punjab Investors’ Summit here on Wednesday.
At the summit, Punjab Chief Minister Parkash Singh Badal envisioned Punjab as the most favoured investment destination not only in the country, but across the globe. As many as 376 memorandums of understanding worth over Rs 1,12,000 crore, with a potential to generate 2.50 lakh jobs, were signed with the state government during the summit.
Besides King’s College, Fortis Group chief Malvinder Singh announced that his group would set up a medical university in Punjab. Reliance Group chairman Mukesh Ambani said his group has implemented all the commitments made earlier. ITC chairman Y C Deveshwar said his company would invest in Kinnow processing. SpiceJet chairman Ajay Singh said Punjab has the potential to create a Dubai here.
In his keynote address during the summit attended by a galaxy of business tycoons, Badal said the credit for summit’s success went to Deputy Chief Minister Sukhbir Singh Badal.