Hyderabad: Health Minister Etela Rajender said on Sunday that the State made rapid strides in Industrial development during the past five years, thanks to the efforts made by Chief Minister K Chandrashekhar Rao as well as KT Rama Rao in his earlier capacity as Minister for Industries.
Laying the foundation stone for the Rs 250 crore stent manufacturing unit at Medical Devices Park in Sultanpur, Sangareddy district, he said that, entrepreneurs from States such as Maharashtra and Gujarat had been investing in a big way in Telangana because of the new industrial policy of the State government.
The new facility will be set up by Sahajanand Medical Technologies (SMT), a leading manufacturer of coronary stents in India. The integrated manufacturing unit will be producing the minimally invasive life saving devices. It is expected to generate employment opportunity for 2,200 persons directly and 500 indirectly.
The unit will have a manufacturing capacity of more than 1.25 million stents per annum, which will make it Asia’s largest stent manufacturing unit.
Speaking on the occasion, the Minister said that the State had offered major incentives to the entrepreneurs along with round the clock power supply.
He appealed to the company management to give priority to local youths in employment. Minister for Employment CH Malla Reddy, TS IICC chairman Bala Mallu, company Chairman Dhirajlal Kotaria were among those who took part.