KTR lays foundation stone for Medical Devices Park
Hyderabad, June 17 (INN): Telangana Industries Minister K. Tarakarama Rao laid the foundation stone for ambitious Medical Devices Park in Sultanpur of Patencheruvu mandal of Sangareddy district on Saturday.
Speaking on the occasion, KTR said that the Medical Devices Park would be the biggest in the country and it would get global identity to Hyderabad in the medical sector. He said in the first phase, the park would be developed on 250 Acres where over 1,000 companies would manufacture various medical devices. Nearly 35% of country's vaccines are manufactured in Hyderabad and the proposed park will prove beneficial to all medical companies, he said.
Stating that nearly 75% of medical devices are imported from other countries to India, KTR hoped that the manufacturing of medical devices locally would drastically reduce the cost of medical treatment. He said that the Telangana Government has already entered into MoUs with Medical City of China and Medical Devices Park of Korea.
In his speech, Irrigation Minister T. Harish Rao praised KTR for starting the park in Sultanpur of Sangareddy. He said KTR has been striving hard to turn Telangana into an Industrial Hub. He said that Park would also generate thousands of new jobs besides cutting down the cost of treatment. He advised the units coming up in the Park to provide jobs to local youth.
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