In order to cut costs of healthcare equipment and research for new vaccines in Chennai, government of India has decided to set up a medical technology park in the city.

The proposed park, which is being constructed on 300 acres of land, will be equipped with medical device manufacturing units, healthcare infrastructure and vaccine technology facilities.

The park is scheduled to be completed by 2012.

Commenting on the launching of the park, Mr. Surinded Sing, drug controller general of India (DCGI) said, “The medical park will enable us to manufacture cost-effective medical equipment for the country. The vaccine park will research on developing new vaccines. However, details about financial benefits the government might give to companies are not known as the proposal is at a discussion level.”

The DCGI also stated that while the work for establishing the vaccine park has already commenced, the ministry of health and family welfare will shortly invite private players to set up facilities in the park.

The government plans to keep the park open to both national and international companies.