Hyderabad: Sahajanand Medical Technologies (SMT) Private Limited will be setting up Asia’s largest cardiovascular stent manufacturing plant at Sultanpur Medical Devices park, of Sangareddy district in Telangana, at an estimated cost of Rs 250 crores.
SMT Global MD, Bhargav Kotadia, met caretaker minister K.T. Rama Rao at the Camp Office on Tuesday. Later in the day, SMT announced an investment of Rs 250 crore to set up an integrated manufacturing unit of minimally invasive life-saving medical devices. Mr Rama Rao said that this would create more than 2,000 jobs directly in the park.
This manufacturing unit will be a mega-project in the park.
In the three phases of the investment, the unit will have a manufacturing capacity of 1.25 million stents and 2 million balloon catheters each year. According to the press statement, MD Bhargav had reasons to pick Telangana due to its industry-friendly TS-iPass policy, availability of amenities and a talent pool among others.
