First medipark set up in Tamil Nadu!
Q. Medipark is being set up where in Tamil Nadu through SPV for the first time?- Published on 07 Oct 16a. Chengalpattu
b. Kanchipuram district
c. Both of the above
d. None of the above
ANSWER: Both of the above
The Union Cabinet on 5th October 2016 approved the establishment of a medical devices manufacturing medipark at Kanchipuram district’s Chengalpattu through an PSV.
- A miniratna PSU under the Union Ministry of Health and Family Welfare, HLL Lifecare Ltd will sublease over 330 acres of land at the said location
- As a result, the shareholding of the HLL in the project will be above 50 percent
- Medipark project will boost the business of local manufacturers producing high end products at affordable rates, resulting in cost efficient healthcare services delivery to a large group of people
- The contribution will be for the development of medical devices and technology sector as well as allied disciplines in the nation
- HLL will sublease the land to investors through a transparency bidding process
- The centre will be set up in 7 years with physical infrastructure being set up in the first phase
- A knowledge management centre will be developed in the second phase
- Emphasis is on reducing dependence on import and creating a strong base for indigenous and domestic industries
