Lucknow: This center has sanctioned the medical park in Uttar Pradesh, which is likely to attract the initial investment of Rs 15,000 Crore.
One of the four parks approved by the center, it will be arranged in sector 28 in the Yamuna Expressway Industrial Development Authority area in Noida.
Minister of Industry Development Satish Mahana said the center had received proposals from 14 countries, but had given approval in the fourth principle, including, Himachal Pradesh, Madhya Pradesh and Tamil Nadu.
On Saturday, Chairman of the Minister of Yogi Adityanath also expressed his gratitude to the center to oversee the project, which aims to ensure easy access to infrastructure testing and facilities that will reduce the production costs of medical devices.
“The park will come on 350acre and the land for the project has been acquired by Yeida.
In phase 1, we expect investment at least Rs 15,000 Crore.
Some companies have approached the government with proposals and development work for the project will soon begin,” he said further.
Speaking with Toi, CEO of Yeida Arun VIR Singh said, at first 100 plots would be carved from the area for the allocation for the industry.
“We expect various types of manufacturing to take place in the area, including medical equipment, MRI machines, high-end testing, oxymeters and ultrasound machines,” he said.
“The center of public facilities will also be arranged,” he said further.
Singh said the center would provide Rs 100 Crore for public facilities centers, while the state government offered incentives to investors.
This includes Rs power rates 3.95 per unit, exceptions with stamp duty and on GST for 10 years and low water costs per kiloliter, he added.
“The Kalam Institute of Sciences in Hyderabad has prepared a detailed project report and we have sent it to the center.
After the project was approved, we have been asked to submit fresh DPR.
After this is done, we will be able to start developing,” Singh said.
Noida: Medical device park for drawing RS 15K CR investment
