Khasi Hills Autonomous District Council (KHADC) of Meghalaya on Thursday signed an agreement with Foreign Investment Promotion Organisation for a botanical garden and an Information Technology park.
Official sources said FIPO will act as a facilitator to rope in investors from the US and Canada to bring Rs 300 crore investment for the projects.
KHADC Chief Executive Member C B Syiem said the botanical garden-cum-resort would be built at a cost of Rs 75 crore at Umium in Ri Bhoi district. The IT park-cum-commercial complex will be set up in Shillong.
He said the profits would be shared by KHADC and FIPO equally even as he hoped that the projects would create jobs.
Funds will also be pumped in the wasteland but non-forest areas for development, the sources said.