Centre Gives Nod to Medical Device Park in Greater Noida

The Central government on 25th September gave in-principle approval for a medical device park proposed near the Noida International airport at Jewar in Sector 28. Yamuna Expressway Industrial Development Authority (Yeida) said that this medical device park will bring

BY Realty Plus
Published - Tuesday, 28 Sep, 2021

Centre Gives Nod to Medical Device Park in Greater Noida

The Central government on 25th September gave in-principle approval for a medical device park proposed near the Noida International airport at Jewar in Sector 28. Yamuna Expressway Industrial Development Authority (Yeida) said that this medical device park will bring massive business opportunities and create jobs in the health sector in the area. Arvind Kumar, an undersecretary with the government of India wrote to Alok Kumar, additional chief secretary, infrastructure and industrial development department, Uttar Pradesh government. Kumar directed the concerned authorities that a detailed project report for the medical device park should be submitted by December 23 this year. According to a report we convey in-principle approval to the setting up of a medical device park on 350 acres of land on Yamuna Expressway as per the scheme guidelines of ‘Promotion of Medical Device Park’. The steering committee of the government decided that now the DPR is required to be submitted in 90 days. The in-principle approval means that the Yeida is expected to get over Rs 1,000 crore in funding and other benefits from the Central government. The report also quoted Arun Vir Singh, CEO of Yeida, saying, “It is a big achievement that we have got the approval from the Central government for setting up the medical device park. It will be the first such park in the country and the work on the DPR is already underway. We will submit it within the stipulated time and plan to launch the plot and shed scheme around Dussehra.” Earlier, in November 2020, Yeida had earmarked 350 acres of land for the medical device park, following which it sent a proposal to the state government. The authority also revealed that it is expecting the Central government and private firms to invest Rs 5,250 crore for the project once it is executed.