Marubeni Corporation, a Japanese business, has proposed spending more than 10,000 crore to build a high-tech industrial park in Karnataka, according to the state's Large and Medium Industries Minister M B Patil.

A statement from the minister's office said the Tokyo-based corporation predicted that the investment will boost Karnataka's economy by two billion (US) dollars and result in the creation of 40,000 new employment.

In this light, Patil said, “The government is eager to take the project forward and related decisions would be undertaken."

Japan's Ministry of Economy, Trade and Industry has already approved the project's feasibility report, the delegation said during the high-level meeting. The firm has developed industrial parks in China, Thailand, and the Philippines, with similar projects coming up in Indonesia, Myanmar, Vietnam and a few other countries, the stated further stated.