Cabinet approves subleasing of land for Medical devices manufacturing park in Tamil Nadu

New Delhi, Oct 5 (KNN) Country’s first manufacturing cluster in the medical technology sector would be set up in Chengalpattu, Tamil Nadu, and the cluster is expected to boost domestic manufacturing of medical devices and equipment in India.

The Union Cabinet today gave its approval to Ms/. HLL Lifecare Ltd., to sub-lease 330.10 acres of Government land at Chengalpattu, Kanchipuram District in Tamil Nadu for setting up Medipark. The project will be the first manufacturing cluster in the medical technology sector in the country and is expected to boost the local industry.

M/s. HLL Lifecare Ltd., a Mini Ratna PSU under Ministry of Health & Family Welfare is located in the outskirts of Chennai. The land was leased to it by the government in 2009.

The medical devices manufacturing park (Medipark) would be set up through a special purpose Vehicle. The shareholding of HLL in the project would be above 50%.

The Medipark project will be the first manufacturing cluster in the medical technology sector in the country, envisaged to boost the local manufacturing of hi-end products at a significantly lower cost, resulting in affordable healthcare delivery, particular in diagnostic services to a large section of people.

“The proposed Medipark would contribute to the development of medical devices and technology sector and allied disciplines in the country, which is still at a nascent stage besides generating employment and give a boost to the government's "Make in India" Campaign,” said the Cabinet release.

Medipark will be developed in phases, spread over seven years for completion.

The project is expected to reduce the dependence on imports and create a strong base for the growth of indigenous and domestic industry by providing access to state of art infrastructure and technology.

The domestic manufacturing of medical devices and equipment shall not only usher in a regime of assured and affordable health care delivery but also deepen and strengthen the penetration of quality health care services, added the Cabinet release.