Yeida allocates 37 plots for Medical Devices Park
GREATER NOIDA: The Yamuna Expressway Industrial Development Authority (Yeida) has awarded 37 plots of its medical device park to successful applicants via a lottery on Friday. The project will be developed in Sector 28 along the Yamuna Highway near the Noida International Airport site at Jewar.
A total of 173 companies applied for 136 plots of 1000 square meters, 2100 square meters and 4000 square meters. However, after careful review by the authority’s technical team, only 39 companies qualified. The selected companies manufacture medical machinery and equipment. The Yeida opened the application program on May 23, 2022, with a deadline of July 7, 2022.
“To maintain transparency and accountability, we have recorded the entire award process and broadcast it live on Facebook and YouTube. The medical device park will boost the manufacturing sector in this region and create jobs for locals,” said Arun Vir Singh, managing director of Yeida.
According to the authority, he will receive ₹556 crore investment for these developments. Additionally, Yeida will get ₹50.08 crores in revenue from the sale of land to these 37 companies.
There are four categories of companies that have obtained plots under this scheme. Category 1 companies are involved in cancer care and radiation therapy medical devices, while Category 2 companies manufacture radiology and imaging medical devices (ionizing and non-ionizing radiation products) and nuclear imaging devices. Businesses that fall under category four deal with aesthetic and cardio-respiratory medical devices, including cardio-respiratory category catheters and kidney care medical devices, and businesses in the category are in implants, including implantable electronic devices, officials said.
A total of 11 companies were allocated plots of 1,000 square meters, 21 companies were allocated plots of 2,100 square meters, and five companies were allocated plots of 4,000 square meters.
Yeida will allocate the remaining plots in its next project which will be launched soon. “We want companies with adequate financial capacity, experience and technical qualification in manufacturing medical devices, which is why many companies have been rejected in this program,” Singh said.