Chennai: With an aim to build high quality, cost effective medical technology products suiting the requirements of developing countries, India will establish its first medical technological park in Irugattukottai, Chennai.

Trivitron and Aloka are the two international business giants that have joined hands to build the technological park.

Talking to the reporters here, Dr. GSK Velu, managing director of Trivitron said that, "A Rs.250 crore investment is expected to be made to establish this park, which will be spread over an area of 23 acres."

He also added that this park will also beautify the accessibility and affordability of medical instruments to the rural people. However, this park will focus on domestic market and then on emerging markets while giving full emphasis on South Asia, West Asia and African Markets.

He also said that presently, most of the medical instruments were imported as hospitals were hesitant to use products without a brand name. When all other related fields focusing medical technology had grown in India, it was for the very first time that India as a whole will start manufacturing medical technology products.

Moreover, these companies were also exploring the possibility of converting the park into SEZ after acquiring another piece of land in the same area.