The Yamuna Expressway Industrial Development Authority (YEIDA) is intensifying efforts to expedite the development of the Medical Device Park in Greater Noida. In a strategic move to accelerate this significant project, YEIDA has commenced the establishment of a project management unit (PMU), which will provide comprehensive support to the authority across various aspects of the project.
A spokesperson from YEIDA detailed the initiative, stating, “The proposal for the formation of the PMU has been floated to assist the authority in promoting investment, securing necessary approvals, and monitoring the medical device sector.” The PMU’s responsibilities will encompass identifying potential investors, maintaining a comprehensive database, and organizing targeted B2G (Business to Government) and B2B (Business to Business) meetings. In addition to these core functions, the PMU will develop concept notes, benchmark policies, and coordinate webinars, strategies, and action plans aimed at outreach and promotion. The unit’s establishment is expected to be finalised by early August.
A crucial role of the PMU will be planning and executing roadshows designed to raise awareness about the Medical Device Park and attract investments from across the country. The action plan includes organising roadshows in states such as Gujarat, Haryana, Maharashtra, and Tamil Nadu, as well as major cities including Delhi, Ahmedabad, and Hyderabad. Furthermore, the PMU will extend its focus to international markets, aiming to draw foreign investments from countries such as Israel, Taiwan, and Japan. The unit will develop a comprehensive action plan for these initiatives, including sector profiles, regional profiles, and comparative studies of the Medical Device Park and other industrial areas.
The PMU will also be tasked with scrutinising applications for establishing facilities within the park, ensuring adherence to YEIDA guidelines. To support these activities, the unit will appoint medical device experts and investment specialists. The Medical Device Park in Greater Noida is set to be developed in two phases, covering a total area of 350 acres. The first phase will focus on 200 acres, with the second phase encompassing the remaining 150 acres. The total estimated cost of the project is Rs 439.49 crore, which includes Rs 239.91 crore for land development, Rs 190.18 crore for the construction of common facilities and infrastructure, Rs 5 crore for project management and consultancy expenses, and other associated expenditures.
Strategically located in Sector 28 of YEIDA Phase-1, the park will benefit from its proximity to the upcoming Noida Airport and direct connectivity to the Yamuna Expressway. This prime location positions the Medical Device Park as a future key industrial hub, offering excellent connectivity and numerous advantages for businesses in the medical device sector. The accelerated implementation of this project reflects YEIDA’s commitment to fostering industrial growth and enhancing infrastructure. By fast-tracking the development of the Medical Device Park, YEIDA aims to create a thriving ecosystem for the medical device industry, attracting significant investments and driving economic growth in the region.
