(MENAFN- KNN India)
Chennai, Nov 16 (KNN)
Specialty chemicals giant Lubrizol and industrial conglomerate Polyhose signed a Memorandum of Understanding (MoU) on thursday
to establish a cutting-edge medical manufacturing facility near Chennai.
The signing ceremony, held in the presence of Tamil Nadu Industries Minister TRB Rajaa, marks a significant milestone in advancing India's capabilities in precision medical manufacturing.
The facility, with an investment of approximately Rs 200 crore, will enhance Lubrizol's production capacity of medical tubing in India by five times. This will facilitate better access to life-saving medical tubing in the country and expand export opportunities to global markets.
The high-quality tubing produced at the facility will serve critical neurovascular and cardiovascular applications, including balloon catheters, intravenous catheters, hemodialysis tubes, and minimally invasive procedure catheters.
Speaking at the event, Bhavana Bindra, Lubrizol's Managing Director for India, the Middle East, and Africa, stated,“This agreement brings precision manufacturing technology into India – a new business opportunity for the country to serve critical care markets in India and across the globe.”
She emphasised the potential of this partnership to bolster India's role as a hub for advanced medical manufacturing.
Industries Minister TRB Rajaa lauded the collaboration, highlighting its contribution to the local economy and healthcare sector.
“This partnership will produce high-quality medical tubing used in critical applications such as neurovascular and cardiovascular treatments, including brain stimulation and ureteral stents. It reflects Tamil Nadu's commitment to fostering world-class manufacturing capabilities.”
The partnership is poised to play a transformative role in the healthcare industry, aligning with India's vision to become a global leader in high-precision medical manufacturing.
By leveraging advanced technology and expertise, the facility will meet rising domestic demand while reinforcing India's position as an exporter of medical devices to international markets.
The venture also reflects Tamil Nadu's growing prominence as an industrial hub for high-tech and healthcare sectors, promising economic growth and enhanced healthcare access.
(KNN Bureau)
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