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Himachal Pradesh: Rs 810 Crore MoU Signed For Medical Devices Park At Nalagarh

SHIMLA: Himachal Pradesh Industries department on Monday signed 15 MoUs amounting Rs 810 crore with the investors in the upcoming Medical Device Park (MDP) at Nalagarh in Solan district. Rakesh Kumar Prajapati, Director (Industries) cum Managing Director, HPSIDC, who had signed the MoUs on behalf of the State Government apprised the investors that the structure of State Implementing Agency has been already prepared, which will be instrumental in developing this Park.

He also shared that the State Implementation Agency (SIA) for execution of park has already invited bids of consultant for Environmental Clearance (EC) and Project Management Consultancy.

Additional Director (Industries) Tilak Raj Sharma; District Industries Centre Nalagarh- General Manager- Sakshi were also present during the signing of MoU.

Rakesh Kumar Prajapati said that other infra planning such as power, water and road connectivity is at advanced stage. He said that MDP project cost is of Rs 350 crore, wherein the Government of India will provide grant-in aid of Rs 100 crore for the development of Common Scientific facilities in the Park.

He said that MDP will also house Centre of Excellence of CiBiod PGIMER, for which detailed discussion was held with Dr Varinder Garg, Principal Investigator of Center for Innovation and BioDesign (CIBioD), PGIMER, Chandigarh. The department will be signing an MoU with CiBioD, PGIMER very soon.

He said that the MoUs signed have verticals/ products ranging from disposable syringes, cardiac stents, medical catheter, X-ray, EEG, EMG, Spirometer, IVD products, Orthopaedic Implants, Blood Bank Equipment, Oxygen Concentrators, BP monitor, electronic thermometer, audiology products, ICU ventilator, Anaesthesia machine, vestibular product, bio-signal recorder, diagnostic instruments, OT products, ICU bed.

“Many of these prospective entrepreneurs, who have signed MoUs, are already operating in Medical devices segments and also contributing towards exportsm,” he said, adding that a delegation of 7-8 MSME entrepreneurs from Mohali Medical Devices Cluster also evinced interest in setting up unit in this Park. They signed MoUs for different verticals.

He said that State is now actively considering taking a Partner Country for technology and for attracting investment. Also, Investment Outreach for Medical Devices Park will be organised soon in prominent cities within India and outside, which are known for high end medical device manufacturing.

S3V Vascular To Invest Rs. 250 Crore For Setting Up Medical Devices Manufacturing Unit In Hyderabad

The Hyderabad-based S3V Vascular is all set to invest Rs. 250 crore for setting up a medical devices manufacturing unit in Telangana Medical Devices Park at Sultanpur on the outskirts of Hyderabad.

According to Badari Narayan, director of S3V Vascular, they have decided to set up a state-of-the-art integrated medical devices facility wherein high end critical life-saving neuro and cardiac medical devices would be manufactured.

It is learnt that the company is setting up the new unit with a cost of Rs. 250 crore and will manufacture a drug-eluting stent needed for treating patients suffering from various cardio vascular disease. It is also understood that the medical devices manufactured here at this facility would be an alloy based medical device devoid of using nickel and cobalt to avoid allergic reactions in patients.

“The neuro and cardiac medical devices manufactured at this medical device facility will be first of its kind in the world made of special alloy which is unusual from earlier nickel and cobalt alloy that have allergic ions,” informed Narayan.

The medical device company is also proposing to manufacture metallic bioresorbable vascular scaffolds in its facility which will reduce the re-producer rates.

The proposed facility is being set up with a huge investment and is expected to generate a total direct employment to more than 500 persons and another 300 persons will be getting indirect employment.

Company sources revealed that the new medical device manufacturing facility would comprise of three specialized divisions including neuro interventional medical devices along with neuro training centre and the cardiac interventional medical devices and drug coated critical care catheter manufacturing divisions.

Commenting on the new S3V Technologies investing in the Telangana Medical Devices Park, IT Minister K. Taraka Rama Rao said that with more and more investors coming to Hyderabad, it reflects the friendly environment for the industries in the state and said very soon Hyderabad will emerge as India’s leading medical devices hub.

Adding further, the Industries minister said that ever since the launch of the Medical devices park in the year 2017, it has witnessed phenomenal growth with an overall investment of Rs.1,500 crore and providing jobs to more than 7,000 people in the state.

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