Think3D to open facility at Andhra Pradesh medical devices parkPublish Date : Jun 22, 2017
HYDERABAD: Three-dimensional printing solutions provider Think3D will be setting up a 3D printing facility in collaboration with Andhra Pradesh Medtech Zone (AMTZ) with an investment of $6 million, announced a top company executive.
The facility, to come up on an area of 20,000 sft, will offer prototyping and low volume manufacturing to medical devices companies in AMTZ.
Prudhvi Reddy, co-founder, Think3D said, “The facility will come up on an area of 17,000-20,000 sft in the first phase and then look at expanding in the remaining land of the one acre that has been allotted to us. While the infrastructure would be taken care of by the government, sourcing of devices and upkeep of the facility would be the responsibility of the company. We will be catering to over 400 companies including X-ray manufacturers at the park”.
The profit sharing ratio between AMTZ and Think3D is 70:30 which could change depending on the future investments made by each of the players, said a senior executive of Think3D seeking anonymity.
AMTZ, is an enterprise under the Andhra Pradesh government, a 270 Acre zone, dedicated for medical devices manufacturing and aims to reduce the cost of manufacturing by up to 40Rs and also reduce dependency on imports for medical devices, which is presently around 78Rs .