India’S First Medipark to Be Set Up at Chengalpattu in Tamil Nadu (Download PDF)

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Union cabinet approved setting up Medipark at Chengalpattu, Kanchipuram district, Tamil Nadu through a special purpose vehicle. It will be the India’s first medical devices manufacturing park. Union Cabinet permitted HLL Life care, a Mini Ratna PSU to sub-lease over 300 acres of land at Chengalpattu.

About Medipark

  • Medipark project will boost the local manufacturing of hi-end products at the lowest cost.
  • Developed in phases, spread over seven years.
  • First phase is to develop physical infrastructure
  1. Plots will be leased from third year onwards.
  2. Land to be provided to qualifying entrepreneurs from Medical Device and Equipment.
  3. Manufacturing Industry will be established at a subsidized rate.
  4. In second phase is to develop knowledge management center for young enterprises through grants and assistance from departments.
  • It will reduce the dependence on imports and create a strong base for the growth of indigenous and domestic medical equipment industry by providing access to state of art infrastructure and technology.

Funding of Medipark

  • Medipark will be funded through a Special Purpose Vehicle (SPV) with HLL shareholding acquiring above 50% stake in this project.
  • HLL will sublease 330.10 acres of land to investors, through a transparent bidding process to investors.

Significance

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Map

  • Medipark at Chengalpattu, Kanchipuram district, Tamil Nadu.
Location of Chengalpattu

Location of Chengalpattu

Location of Chengalpattu

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- Published/Last Modified on: October 10, 2016

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