YEIDA Accelerates Greater Noida Medical Device Park Project with New PMU

Beyond domestic efforts, the PMU will focus on attracting foreign investments into the medical device park.

The Yamuna Expressway Industrial Development Authority (YEIDA) has put forth efforts to expedite the implementation of the Greater Noida Medical Device Park project.

As part of this initiative, YEIDA has begun establishing a project management unit (PMU) to support various facets of the project.

"YEIDA has floated a proposal for the formation of the PMU that would assist the authority in promoting investment, obtaining approvals, and monitoring the medical device sector," an official spokesperson from YEIDA stated.

The PMU's responsibilities will include identifying potential investors, maintaining a comprehensive database, and organizing business-to-government (B2G) and business-to-business (B2B) meetings tailored to investors' interests.

In addition to these tasks, the PMU will develop concept notes, benchmark policies, and coordinate webinars, strategies, and action plans for outreach and promotion.

The process of finalizing the PMU is expected to be completed by early August.

Strategic Role of the PMU

The PMU will play a crucial role in planning and executing roadshows to raise awareness about the medical device park and attract investments from various regions across the country.

The action plan includes organizing roadshows in states such as Gujarat, Haryana, Maharashtra, and Tamil Nadu, as well as major cities including Delhi, Ahmedabad, and Hyderabad.

Beyond domestic efforts, the PMU will focus on attracting foreign investments into the medical device park. Promotional initiatives will target countries such as Israel, Taiwan, and Japan.

Further, the PMU will develop an action plan for these efforts, incorporating sector profiles, regional profiles, and comparative studies of the medical device park and other industrial areas.

Additionally, the PMU will scrutinize applications for setting up facilities within the park and ensure compliance with YEIDA guidelines. To support these activities, the PMU will appoint medical device experts and investment specialists.

Development Phases & Budget

The medical device park in Greater Noida will be developed in two phases, covering an area of 350 acres.

The first phase will focus on developing 200 acres, while the second phase will cover the remaining 150 acres.

The estimated cost for the entire project is INR 439.49 Cr. This budget includes land development costs (INR 239.91 Cr), construction of common facilities and infrastructure (INR 190.18 Cr), project management and consultancy expenses (INR 5 Cr), and other associated expenditures.

Strategic Location & Connectivity

Located in Sector 28 of YEIDA Phase-1, near the upcoming Noida Airport and with direct connectivity to the Yamuna Expressway, the medical device park is strategically positioned to become a key industrial hub.

This location offers excellent connectivity and numerous advantages for businesses operating in the medical device sector, further enhancing the park's appeal as an investment destination.

By establishing the PMU and executing a comprehensive plan, YEIDA aims to transform the Greater Noida Medical Device Park into a premier destination for medical device manufacturing and innovation, attracting both domestic and international investments.