With the state being on a steady path to be the first to start several new initiatives; Andhra Pradesh Chief Minister N. Chandrababu Naidu will now lay foundation stone for South Asia’s first dedicated medical devices park coming up at Nadupuru village in Visakhapatnam on August 19. The 226 acre park will be called AP Med Tech Zone (AMTZ); with over 50 companies having shown interest and 38 having submitted Expression of Interest (EOI) letters.
On Wednesday, state health secretary Poonam Malakondaiah reviewed the arrangements for the foundation laying ceremony. District collector Praveen Kumar, Vuda vice-chairman G. Babu Rao Naidu and other senior district officials were present. After laying the foundation for the AMTZ, the CM will also interact with enterpruners, who intend to invest in AMTZ.
AMTZ, a company under Government of AP, received approval for funding on June 1, 2016 and now will implement the project of setting up the park. By employing in-house high-capital intensive common scientific facilities; the cost of production of medical devices will come down drastically.
This park will offer state-of-the-art facilities such as specialised laboratories, warehousing, testing centre apart from 100 to 150 independent manufacturing units, each in a built-in ready to use area of 0.5 to 1 acre each. AMTZ will immensely help in reducing import dependency, increasing export while generating wealth and employment.