The Tamil Nadu Chief Minister M K Stalin said on Tuesday that the investments are expected to provide direct and indirect employment to about 10,000 people.
The CM said in a statement park would be set up at an anticipated cost of rupees 450 crore.
He added that central government has granted its in-principle approval after accepting the State govt’s request, and would grant up to rupees 100 crore for the park in Kancheepuram district.
Chief Minister said that the park is spreaded over 350 acres in the SIPCOT Industrial Complex at Oragadam, the park would manufacture ventilators, blood pressure monitors, pacemakers, equipment for surgeons as well as other requirements of the medical staff.
Tamil Nadu CM added State Industries Promotion Corporation of Tamil Nadu Ltd (SIPCOT) would create world-class facilities in the park to make it one of the major manufacturing hubs of medical devices in the world.
CM Stalin said that the Budget for FY 2021-22, the State government announced the setting up of a Medical Devices Park.
The CM recollected the proposal was made to the Department of Pharmaceuticals of the central government on behalf of the State government.