TUV Rheinland India, a subsidiary of TUV Rheinland Group, Germany, a worldwide leader in Testing, Training, Inspection, Consulting & Certification, announced that it has partnered with Andhra Pradesh MedTech Zone (AMTZ), the country's first Medical Technology Manufacturing Park, recently established at Visakapatnam over an area of 270 acres by the Govt. of Andhra Pradesh.
As per the terms of the partnership, TUV Rheinland India has been awarded a contract to set up and operate Electro-Magnetic Interference (EMI/EMC) including Anechoic Chambers, Biomaterial, Reliability & Electrical Safety Testing Facilities on Public Private Partnership Mode within AMTZ at an estimated investment of about Rs 85 crores over 4-5 years to support AMTZ's objective to reduce medical device imports and production cost, partner with industry to deliver the quality medical devices to local market and eventually increase the export of world class medical devices to the international market.
The contract was signed today by Thomas Fuhrmann, Managing Director of TUV Rheinland India and Dr. Jitendar Kumar Sharma, Director & CEO of AMTZ. While agreement signing kick-starts a series of technical works, a formal exchange of this agreement is shortly scheduled at a high level event.
The creation of AMTZ is based on the fact that medical devices manufacturing requires very high investment facilities which are capital intensive for individual manufacturers to invest upon. With a market size of close to $4 Billion, 78% of medical devices in India are imported from other countries.
AMTZ will house modern 250-300 independent manufacturing units, each over a built-in ready to use area at a very cost effective long-term lease. In addition the park will have in-house high investment scientific facilities, including state-of-the-art testing laboratories, which would help manufacturers significantly reduce the cost manufacturing thereby creating world class diagnosis with quality products accessible to the common man at affordable prices.
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