New Delhi, Sept 28 (KNN) The Uttarakhand Cabinet has recently approved a proposal for setting up an aroma park in Kumaon region, said Madan Kaushik, State Urban Development Minister.

A proposal to this effect was cleared by the state Cabinet at its meeting chaired by Chief Minister Trivendra Singh Rawat.

The park will be developed over an area of 30 acres in Kumaon region of Uttarakhand and is likely to attract Rs 500 crore investments from incense sticks and aromatic oil manufacturing firms.

Addressing media after the cabinet meeting, Kaushik said that the aroma park will come up in Pant Nagar-Kashipur area where incense sticks and aromatic oil manufacturing companies can make investments worth Rs 500 crore. Together these industrial units will give employment to 5,000 people.

He further informed that the industrial units buying land for the first time at the park will get 100 per cent exemption from stamp duty, concession in interest on bank loans and in GST for five years.

The cabinet also decided to put the loss making Sitarganj sugar mill on PPP mode, Kaushik said.

The state government also decided to bear the cost of skill development training of 1,000 youths, he said.