Recently, Udupi is also making its mark in the real estate industry, greatly influenced by its neighboring spearhead Mangalore. The Karnataka government had signed a memorandum of understanding (MoU) with the Cogentrix Light and Power Industry to set up a thermal power plant in the district at Nandikur. However, because of stiff opposition from citizens and environmentalist groups, the project has been temporarily suspended. An attempt by the Nagarjuna Power Corporation to set up a similar plant at nearby Padubidri also met strong opposition. Now, the power plant has been set up, generating 1,200 MW of power under the name of Udupi Power Corporation Limited (UPCL), a subsidiary of Lanco Infra, an Andhra Pradesh-based infrastructure major. Adani Power has taken over from Lanco Infra in 2014 for a sum of Rs 6,000 crores. The opposition, however, continues. Manipal, a suburb of Udupi, is home to the headquarters of Syndicate Bank. It is renowned as an education and medical hub. Kasturba Medical College and MIT (Manipal Institute of Technology) are situated here. TEBMA Shipyards Ltd is located in Malpe harbour complex. It is involved in building multipurpose platform supply vessels (MPSVs), platform supply vessel, geotechnical research vessel, dredgers and tugs for Indian as well as export markets. Udupi has a local handloom sari industry. Made of pure cotton and lightweight, the sari has art silk design on its border and pallu besides butta of art silk dotting it. Hard work, low returns, and competition from power loom has led to a drop in the number of weavers of nearly 95% over three decades. A geographical indication tag for Udupi sarees is under examination with the Geographical Indications Registry of India. National Highway NH 66 and NH 169A passes through Udupi. Other significant roads include the State Highways to Karkala and Dharmastala and to Sringeri. The NH-66 provides a link to Mangalore and Karwar via Kundapur and NH-169A Malpe and Hebri to Agumbe to Thirthahalli and to Shivamogga. Private as well as government buses connect Udupi to parts of Karnataka. Udupi has a railway station on the Konkan Railway. The nearest International Airport to Udupi is Mangalore International Airport, which is approx. 58.5 km away.