VISAKHAPATNAM: Chief minister N Chandrababu Naidu on Friday laid the foundation stone of AP MedTech Zone (AMTZ) at Nadupuru village near Visakhapatnam Steel Plant. This is said to be the first of its kind facility in the country. The AMTZ is spread over 270 acre and will provide jobs to about 25,000 people. It will serve as the hub for companies involved in manufacture of medical devices.
As many as 40 medical devices manufacturing firms expressed interest to set up their units at the AP Med Tech Zone, which is expected to be developed in the next one year.
“We expect at least 300 manufacturing companies to come up here and provide employment to about 25,000 people,” Chandrababu Naidu said. The turnover is expected to be around Rs 30,000 crore a year.
Stating that technology and internet of things will be the ideal combination in the future, Naidu urged all medical devices companies to focus on these two aspects and product world standard equipment at the AMTZ.
Naidu said, “Nearly 40 per cent of the cost can be cut down. Today, 40 companies have shown interest and within one year we have to make the MedTech park a reality. We will provide all infrastructure to reduce the cost for companies.” He said research and development, 3D designing and testing centres will also come up in the AP Med Tech Zone.
“If more land is needed in the future, we will provide it. We will accommodate more companies. We will give all clearances within 14 days,” he said, adding that Visakhapatnam is the ideal destination for investment in the medical devices manufacturing sector.
WHO India representative Henk Bekedam said the AMTZ project will be a game changer for India in the field of healthcare. He said, “This has global consequences, from being pharmacy hub of the world to being the medical devices manufacturing hub of the world.”