Medical device park to come up on 350-acre land near Noida airport

Noida: The Yamuna Expressway Industrial Development Authority (YEIDA) on Monday gave a final approval to the medical device park to be developed along the Yamuna Expressway. Officials said that the park has been planned in 350 acres of land and will be developed in two phases.

"The medical device park, will be located in sector 28 along Yamuna Expressway. The first phase will be developed in 200 acres of land while the second phase will be developed in 150 acres. The distance from Noida International Airport will be 3 kms and will have best connectivity," Arun Veer Singh, chief executive officer, YEIDA said while adding that the park is expected to become operations by March 2025.

The officer further said that the upcoming Noida International Airport at Jewar has attracted investments in the region which has directly benefited YEIDA.

"Even in COVID pandemic, the investments in YEIDA city has increased drastically with the annual income to authority getting increased by nearly 169 per cent when compared to last year. During the period from April 2021 to December 2021, the investments in YEIDA city were 2120 crores which is 169 per cent more when compared to same period during last year," Singh added.

The decision was taken in YEIDA's 72th board meeting which took place on Monday. A total of 41 proposals were tabled before the board which included a one-time settlement scheme for their allottees which will benefit them by waving off the penal interest if the pending amount is paid in a single instalment.