The Union Cabinet chaired by the Prime Minister Narendra Modi has given its approval to M/s. HLL Lifecare Ltd., a Mini Ratna PSU under Ministry of Health & Family Welfare to sub- lease 330.10 acres of land at Chengalpattu, located in the outskirts of Chennai, to setup a medical devices manufacturing park (Medipark) 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.
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