Medical device park to be developed: Govt will give these 7 exemptions to companies

It has 136 plots. It has plots ranging from 1000 square meters to 4000 square meters.

July 10, 2022

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Last Updated on December 31, 2023 by The Health Master

Yamuna City/Greater Noida: The scheme of Medical Device Park, an important project of the Uttar Pradesh government to be developed in Sector-28 of Yamuna Authority, has become a hit.

176 applications have been received for 136 plots under the scheme, out of which 141 have deposited the money.

The scheme will have a draw on July 22. The central government will spend Rs 100 crore in this medical device park.

Apart from this, 13 common facility centers will be built in the park. Companies coming here will be able to use them. No fee will be charged for this.

13 facility centers to be built

North India’s first medical device park will be built in Sector-28 of Yamuna Authority. The park will be spread over 350 acres.

In the first phase, the scheme has been launched on 110 acres. It has 136 plots. It has plots ranging from 1000 square meters to 4000 square meters.

Under this scheme, plots will be allotted to companies manufacturing medical equipment. All facilities will be provided to the companies coming to the Medical Device Park.

For this, 13 facility centers will be set up. These four facility centers will be built on 92648 square feet. About Rs, 106 crores will be spent on these.

Out of this, about Rs, 80 crores will be spent on equipment to be installed in the center. Companies coming here will get every facility. They don’t have to go out for any work.

Click for more Medical Device Parks

Government will give this special exemption.

All kinds of facilities will be given to the companies coming to the Medical Device Park. If the company coming here takes a loan for machinery, then the government will bear the interest of up to two crores every year.

This facility will be available for 10 years. The company will also not have to pay SGST for 10 years. There will also be discounts on freight and air cargo.

Up to 10 lakh in help will be given for waste management

The government will also cooperate with the EPF of the employees working in the company. The company’s shares will be deposited by the government.

10 lakh will also be given for waste management. The government will give training to the employees to prepare them for work. In this, up to Rs 5,000 per 6 months will be given per employee.

There will also be relief in electricity

The government will also help to get the product patented. There will be a discount of up to Rs 5 lakh on this. There will also be support for quality certification.

Companies will also get an exemption for warehouse storage for 10 years. 100 per square meter will be charged per month.

Companies coming here will get electricity at the rate of Rs 3.95 per unit. This facility will be available for 10 years.

Click to read also for Pharma Parks

Electricity duty will be waived to companies

Electricity duty will be waived to companies. Companies will get the facility of a single connection.

At present, industries get electricity at the rate of Rs.8 per unit. Also, other charges are different.

The companies coming here will be provided water at the rate of Rs 4 per kiloliter. During this period, these days can be increased by a maximum of 5 percent every year.

The food court will also be built

A food court will also be built in the medical device park so that the employees and company management who come here do not face any problems with eating and drinking.

Apart from this, a convention center will also be built. With this companies will be able to organize their events here. All these plans have also been prepared.

Selection of Ernst & Young Agency for Monitoring

The Yamuna Authority has selected the Ernst & Young (E&Y) agency to oversee the Medical Device Park. This company will oversee the entire project.

The agency will have three major functions. The first task would be that she would publicize the scheme in the country and abroad.

Roadshows will be held in those countries where the most medical equipment is made. This responsibility will be of this company.

If a foreign company wants to work with someone here by forming a consortium, then this agency will help in that too. If the companies coming here need any kind of help, then this agency will help.

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