Chennai: Medical technology products manufacturer Trivitron Group of Companies today announced the establishment of a Rs250-crore Medical Technology Park at SIPCOT Industrial Park at Sriperumbudur near here, the foundation stone for which was laid today.
The facility would be implemented by way of a joint venture with Japan-based Aloka Company Ltd, which is holding the major stakes at 60%, Trivitron Group of Companies Managing Director GSK Velu told reporters here.
The company had also forged JVs with Biosystems of Spain and Brandon Medical of the UK and was holding major stakes of 60% and 51% respectively, he said.
Velu said that the park would come up on 23 acres of land, and added that the company proposed to acquire 2 more acres of land as it was exploring the possibility of converting the park into a Special Economic Zone (SEZ).
“Cost effective, high quality medical technology products will be manufactured here, with a view to export them to South Asia, Middle East and African markets, besides selling them in India,” he said.
Manufacturing the products in India for domestic use would reduce their prices by 30-40%, he claimed, adding that most of them were presently being imported.
He also said that the company planned to employ 3,000 persons in the next three years and said that the operations involving Aloka would start by next January, while those with Biosystems and Brandon would start by March 2009.