Think3D, a provider of three dimensional printing solutions is all set to collaborate with Andhra Pradesh Medtech Zone (AMTZ) and open up a 3D printing facility with an estimated investment of $6 million.
According to sources, the facility will be established across 20000 sq. ft area and will offer low volume manufacturing and prototyping to the various medical devices companies that operate under AMTZ.
According to Purdhvi Reddy who is the cofounder of Think3D, in the first phase they are planning to develop the facility across the 17000 – 20000 sq. ft of land. However, if things work out fine they will soon expand the facility across the one acre that has been specially allotted to the company for the purpose. She said that the state government would be responsible for taking care of the infrastructure of the facility while the firm will be responsible for the maintenance of the facility and the sourcing of the devices.
Presently the profits will be shared by AMTZ and Think3D in the ratio of 70:30. However, this could change depending upon the investments that would be made by them in the future.
AMTZ is Andhra Government’s enterprise and spans across an area of 270 acres. It is majorly dedicated to the manufacturing of medical devices that would help in the reduction of manufacturing costs by about INR 40. This would also reduce the country’s dependence on importing of medical equipment which costs about INR78.