Tamil Nadu

‘Medical Devices Park will attract ₹3,500 cr. in investments’

The Medical Devices Park that will come up at Oragadam will attract investments to the tune of ₹3,500 crore and is expected provide direct and indirect employment to about 10,000 people, Chief Minister M.K. Stalin said on Tuesday.

The park would be set up at an estimated cost of ₹450 crore. The Union government has granted its in-principle approval after accepting the State government’s request, and would grant up to ₹100 crore for the park in Kancheepuram district, he said in a statement.

Spread over 350 acres in the SIPCOT Industrial Complex at Oragadam, the park would manufacture ventilators, blood pressure monitors, pacemakers, equipment for surgeons and other requirements of the medical fraternity, he said.

The State Industries Promotion Corporation of Tamil Nadu Limited (SIPCOT) would create world-class facilities in the park to make it one of the major manufacturing hubs of medical devices in the world, Mr. Stalin added.

In the Budget for 2021-22, the State government announced the setting up of a Medical Devices Park. A proposal was made to the Department of Pharmaceuticals of the Union government on behalf of the State government, the Chief Minister recalled.


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Printable version | Oct 23, 2021 1:09:05 PM | https://www.thehindu.com/news/national/tamil-nadu/medical-devices-park-will-attract-3500-cr-in-investments/article36727173.ece

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