AP govt, AMTZ hold first Investors’ meet at Medica, Germany; gets good response from industry

HomeNewsAP govt, AMTZ hold first Investors’ meet at Medica, Germany; gets good response from industry

AP govt, AMTZ hold first Investors’ meet at Medica, Germany; gets good response from industry

Publish Date : Nov 18, 2016

AP govt, AMTZ hold first Investors’ meet at Medica, Germany; gets good response from industry
Shardul Nautiyal, Mumbai

Friday, November 18, 2016, 08:00 Hrs [IST]
Government of Andhra Pradesh and senior management of Andhra Med Tech Zone (AMTZ) led an ‘exclusive investors meet’ at world’s largest and most attended medical devices expo -Medica on November 15 at Dusseldorf, Germany. This was AMTZ first international summit at Dusseldorf.

Advisor to government of Andhra Pradesh and CEO of AMTZ Dr. Jitendar Sharma said that the response from industry has been very encouraging and 10 per cent of the proposed factories have already been booked since October 2, 2016 when the booking for AMTZ was launched. The zone has received applications from some of the largest companies. Medica summit saw tremendous support from Indian Trade Promotion Organization (ITPO) and Association of Indian Medical Device Manufacturers (AIMED) also. Since the foundation ceremony of AMTZ done by CM Chandrababu Naidu on August 19, 2016, the AMTZ park has seen a steady stream of manufacturers.

As a step towards initiating the process for involving and inviting potential investors for the medical device park, bookings started from October 2, 2016 followed with short-listing eligible investors based on a selection criteria subsequent to the booking process.

Earlier, over 50 companies had shown interest and 38 companies submitted Expression of Interest (EoI) letters subsequent to Andhra Pradesh government inviting EoI letters from potential investors.

Proposed to be built on 271 acres of land with a seed capital of Rs. 25 crore, AMTZ will set up in-house high capital intensive common scientific facilities helping medical device manufacturers reduce the cost of manufacturing in the country.

The park will provide for all capital intensive scientific facilities required by most medical device manufacturers and modern state of art 180-200 independent manufacturing units, with varying sizes of 0.25 acre, 0.5 acre and 1 acre. AMTZ would include facilities such as Component testing centre, Electro-magnetic interference laboratory, Medical grade low vacuum molding, cabinet molding, injection molding centres, 3D designing and printing for medical grade products, Sterilization & Toxicity testing centre, Radiation testing centre, Gamma Irradiation facility, Rapid Prototyping Centre, Warehousing and Regulator’s office.

The Summit was attended by a large number of companies- both national and international. After an interactive session, the AMTZ project was applauded by the med tech industry as the first of the kind medical devices park.

The delegation had principal secretary Dr. Poonam Malakondaiah, AMTZ CEO Dr. Jitendar Sharma, vice-presidents – Judish Raj and Manish Gangal from Andhra Med Tech Zone. The summit also had participation from vice-counsel from Consulate General of India, at Germany TS Ramesh and officials of ITPO.

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