Omron starts construction of Rs 124 crore plant to manufacture blood pressure monitors in Chennai
A groundbreaking ceremony for the construction of the facility was held last week at ‘Origins by Mahindra’, an industrial cluster in Chennai developed by Mahindra Industrial Park Chennai Ltd.
CHENNAI: Two months after signing the memorandum of understanding (MoU) with the Tamil Nadu government, Japan's Omron, which owns half of the global market for blood pressure monitors, has started construction of its new plant.
A groundbreaking ceremony was held last week at ‘Origins by Mahindra’, an industrial cluster in Chennai developed by Mahindra Industrial Park Chennai Ltd (MIPCL). It was attended by officials from SMCC Construction India, the Indian subsidiary of Sumitomo Mitsui Construction, a leading Japanese general contractor supporting Omron for the construction of the facility.
Guidance Tamil Nadu, the State government’s investment promotion agency, had recently signed an MoU with Omron Healthcare, the Japanese medical equipment maker, for establishing a manufacturing unit in the state at an investment of Rs 128 crore. The MoU was signed in the presence of Chief Minister MK Stalin in Tokyo.
"Immediately after signing the memorandum of understanding, Guidance Tamil Nadu worked with Tamil Nadu government departments to ensure that the construction starts on the ground," said V Vishnu, the managing director of Guidance. He said that the focus of Guidance is now more on the realisation of the MoUas more investments are likely to come from Japan.
The Kyoto-based manufacturer will build a factory for blood pressure monitors in India so that it can sell locally-made devices in a growing market.
This state-of-the-art facility will mark the company’s debut in the healthcare manufacturing space in India and will further strengthen its presence in the home healthcare device industry in the country. It will be an addition to its global network of production facilities located in Japan, China, Vietnam, Italy and Brazil.
The new manufacturing plant in Chennai will not only generate employment opportunities but will also contribute to the overall economic development of the region.
According to reports, Omron's healthcare business suffered a 14% drop in operating profit in the fiscal 2022 after supply chain disruptions in China.