VISAKHAPATNAM: Andhra Pradesh Chief minister Mr. N Chandrababu Naidu on Friday laid the foundation stone of AP MedTech Zone (AMTZ) at Nadupuru village near Visakhapatnam Steel Plant. This is said to be the first of its kind facility in the country. The AMTZ is spread over 270 acre and will provide jobs to about 25,000 people. It will serve as the hub for companies involved in manufacture of medical devices.
As many as 40 medical devices manufacturing firms expressed interest to set up their units at the AP Med Tech Zone, which is expected to be developed in the next one year.
“We expect at least 300 manufacturing companies to come up here and provide employment to about 25,000 people,” Chandrababu Naidu said. The turnover is expected to be around Rs 30,000 crore a year.
Stating that technology and internet of things will be the ideal combination in the future, Naidu urged all medical devices companies to focus on these two aspects and product world standard equipment at the AMTZ.