ALSO READTPREL commissions 2 projects in Andhra Pradesh and Tamil Nadu Azure Power commissions 100 MW solar project in Andhra Pradesh Yatra inks MoU with Andhra Pradesh govt to promote homestays AIIB grants USD 160 million for Andhra Pradesh power project IESA to open offices in Pune, Andhra Pradesh
TUV Rheinland India, a subsidiary of TUV Rheinland Group of Germany, today entered into a partnership with Andhra Pradesh MedTech Zone (AMTZ) to set up testing facilities on public private partnership (PPP) mode at an estimated investment of about Rs 85 crore.
As per the terms of the partnership, the company has been awarded a contract to set up and operate electro-magnetic interference (EMI/EMC) including anechoic chambers, biomaterial, reliability & electrical safety testing facilities on a PPP model within AMTZ.
The company will invest about Rs 85 crore over the next four-five years. The facility is aimed at reducing medical device imports and production cost, the company said.
The Andhra Pradesh MedTech Zone is the first medical technology manufacturing park in the country. The zone at Visakhapatnam spans 270 acres.
The domestic medical devices manufacturing is a USD 4 billion industry and nearly 78 per cent of medical devices in the country are imported.
AMTZ will house modern 250-300 independent manufacturing units, each over a built-in ready to use area at a very cost effective long-term lease.
In addition the park will have in-house high investment scientific facilities, including state-of-the-art testing laboratories.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)