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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.