50 companies with investment potential of Rs 1424 Cr allocated land: KTR

They will provide jobs to 7000 people directly and 10,000 people indirectly. This was an important footstep to achieve the Life Science industry to USD 100 billion mark by 2030, he said.

By Newsmeter Network  Published on  16 Dec 2021 3:39 AM GMT
50 companies with investment potential of Rs 1424 Cr allocated land: KTR

Hyderabad: Telangana IT and Industry Minister KT Rama Rao on Wednesday hopped that the Life Science industry will reach USD 100 billion by 2030.

Speaking after inaugurating Promea Therapeutics, Marriage Life Sciences, Akriti Oculoplasty, Arka Engineers, SVP Techno Engineers, Elvikon, and Rees Medilife, at Medical Device Park, Sultanpur, KTR said the factories constructed with the investment of Rs 265 crore would provide jobs to 1300 people.

The Minister said the land at Medical Device Park was allocated to 50 companies with an investment potential of Rs 1424 crore. They will provide jobs to 7000 people directly and 10,000 people indirectly. Of these, seven companies were inaugurated today.

Congratulating the authorities of Seven Life Science factories, KTR expressed happiness over the investments in the Medical Device Park which was launched four years back.

This was an important footstep to achieve the Life Science industry to USD 100 billion mark by 2030, he said.

He said Hyderabad is the Center for Medtech innovations, the Minister said it was necessary to encourage new innovations and investments in the state.

KTR said that Medtranic, a medical device company, has started its production. "It is also trying to create the `My Care Link App' to treat the patients. With this APP it is possible to take care of 40,000 patients at a time," he said.

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