The Yamuna Expressway Industrial Development Authority (YEIDA) has allotted 22 industrial plots – just over a fifth of the land parcels offered in the second phase – in its planned Medical Device Park. The move is expected to fetch it Rs 101.48 crore.
The second phase of the scheme for allotment of plots in the Medical Device Park located in sector 28 along the Yamuna Expressway was launched on December 8 and registrations closed on February 28.
A draw was conducted for 99 plots in total – 59 measuring 1,000 square metres and 40 measuring 2,100 square metres, according to YEIDA officials. There were 81 applicants, of which 22 were found eligible.
“Of these 22 applicants, 10 were found eligible in the 1,000 square metre category and 12 in the 2,100 square metre category. These 22 plots were allotted for Rs 101.48 crore, of which Rs 71.21 crore will come from the 12 larger plots and Rs 30.27 from the 10 smaller plots,” an official said.
Also Read: Medical Devices Park, Apparel Park and Toy Park ready for launch: YEIDA CEO
He said the applications were scrutinised thoroughly before the draw and the process was conducted in a transparent manner.
Under the first phase of plot allotments, 37 plots were allotted.
Job generation
YEIDA is the nodal agency implementing the Yamuna Expressway Project and is responsible for residential, commercial, and industrial development along the 165 km Yamuna Expressway that connects Greater Noida with Agra.
About Rs 750 crore has been spent on external development work of the park, which is spread across 350 acres. The park will have infrastructure for manufacturing of medical devices and an administrative block.
Officials said that the latest investment will generate employment for 1,100 people.
Companies including Siemens and OMRON had evinced interest in the Medical Devices Park, YEIDA CEO Arun Vir Singh had said in an interview with Moneycontrol.
He said YEIDA will complete the project by December 2023, which means allotment, possession and construction will be in place for the Medical Device Park by the given deadline.
Allottees said more such schemes should be introduced and small industrialists should be incentivised.
An allottee, Dharmadev Chaudhary, who has a medical devices manufacturing company, said, “There is a need to boost manufacturing of medical devices in India as currently there is a lot of dependency on China and other foreign countries. Domestic industrialists will surely get benefitted with projects like Medical Device Park. Small-scale industrialists should also be incentivised,” he said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
