Himachal Pradesh to Independently Develop Rs 350-Crore Medical Device Park

The Himachal Pradesh government is set to independently construct a Rs 350-crore Medical Device Park in Nalagarh, returning Rs 30 crore received from the central government. The project will be developed on 265 acres, focusing on economic benefits and infrastructure development without central or private agency involvement.

The Himachal Pradesh government is taking a significant step by deciding to construct a Rs 350-crore Medical Device Park in Nalagarh, Solan district, using its own resources. The government will return the Rs 30 crore previously received from the central government, according to a recent press release.

Chief Minister Sukhvinder Singh Sukhu emphasized that this move is in the state's best interest. The planned park spans over 265 acres, and rejecting the central funds avoids stringent terms such as providing land to industrialists at Re 1 per square meter and offering free utilities for ten years. So far, the state government has already invested Rs 74.95 crore into the project.

The restructured project plans to allocate 25% of the land for medical device industries and 75% for other strategic industries. The government will finance the park through a loan from SIDBI under the cluster development scheme, aiming for the industrial hub to contribute significantly to economic development and state revenue. Notably, the government had also avoided private funding for the Bulk Drug Park in Una, investing Rs 1,000 crore from its own resources.

(With inputs from agencies.)