Himachal to seek Rs 250-crore loan for Nalagarh medical device park : The Tribune India

Join Whatsapp Channel

Himachal to seek Rs 250-crore loan for Nalagarh medical device park

Himachal to seek Rs 250-crore loan for Nalagarh medical device park

The under-construction medical device park being set up at Nalagarh.



Tribune News Service

Solan, November 20

To expedite the construction of the Rs 350-crore medical device park in Nalagarh, the Industries Department will soon seek a loan of Rs 250 crore from the Small Industries Development Bank of India (SIDBI).

The Union Government has granted Rs 100 crore as grant-in-aid for the project so that various scientific facilities can be set up. It is one of the few such parks across the nation that have been approved, including the ones in Uttar Pradesh, Tamil Nadu and Madhya Pradesh. The GoI has selected the Industries Department as the state implementing agency for the project.

Director (Industries) Rakesh Prajapati, while confirming the news, said, “A loan of Rs 250 crore will soon be sought from the SIDBI for creating requisite facilities at the under-construction medical device park in the Nalagarh industrial cluster.” With few resources to fund the park, the cash-strapped state government has decided to obtain a loan to set up the facility.

It is being set up over a site sprawling over 121.80 hectares, for which environmental clearance was obtained in a phased manner. Once set up, it will provide a continuous supply of key medical devices and components of the medical devices to residents and ensure that they have access to affordable healthcare facilities.

Civil work was under way at the site where the hilly plot has been levelled. The first phase of the construction process, which is being carried out by the HP State Industries Development Corporation, has been completed.

“Since the medical devices industry is highly power-intensive and process-driven, it needs uninterrupted and affordable power,” noted Industries Minister Harshwardhan Chauhan. “Since Himachal is a power surplus state with the most affordable power tariffs in India, the park will draw investors from far and wide,” he added.

Modi laid foundation stone in 2022

  • The Union Government has granted Rs 100 crore as grant-in-aid for the project so that various scientific facilities can be set up
  • The medical device park is being set up over a site sprawling over 120 hectares, for which environmental clearance was obtained in a phased manner
  • Once set up, it will provide a continuous supply of key medical devices and components of the medical devices to residents
  • Prime Minister Narendra Modi had laid the foundation stone for the park in October last year

About The Author

The Tribune News Service brings you the latest news, analysis and insights from the region, India and around the world. Follow the Tribune News Service for a wide-ranging coverage of events as they unfold, with perspective and clarity.

#Nalagarh #Solan


Top News

Prajwal Revanna books flight from Munich to Bengaluru, likely to reach on Friday midnight

Prajwal Revanna books flight from Munich to Bengaluru, likely to reach on Friday midnight

The 33-year-old grandson of JDS supremo HD Deve Gowda is exp...

BMW with Himachal Pradesh registration number hits trio on bike in Zirakpur, 1 dead

BMW with Himachal Pradesh registration number hits trio on bike in Zirakpur, 1 dead

The airbags of the car were deployed after the impact, while...

Man hacks to death 8 members of his family in MP's Chhindwara; later hangs himself

Man hacks to death 8 members of his family in MP's Chhindwara; later hangs himself

The incident takes place on Tuesday night at Bodal Kachhar v...

No justice, Sidhu Moosewala’s dad lists 9 posers to netas

No justice, Sidhu Moosewala’s dad lists 9 posers to netas

Seeks commitment on raising these in Parliament


Cities

View All