In a bid to find a permanent solution to tide over the oxygen shortage, the Tamil Nadu government on Tuesday announced that COVID vaccines and oxygen would be manufactured in the State itself by entering into Joint Venture (JV) agreement with domestic and foreign firms.
Chief Minister M K Stalin has entrusted this task to the Tamil Nadu Investment Development Corporation (TIDCO) in creating necessary medical infrastructure in this regard through JV agreements and extend full support and assistance to those willing to set up their facilities with a minimum investment of Rs 50 crores.
TIDCO has also sought Expression of Interest (EoI) from both domestic and foreign companies before May 31. All the EoIs will be reviewed and steps will be taken to set up necessary infrastructure for manufacturing of oxygen, vaccines and life saving drugs in the state itself at the earliest, an official release said.
As there has been a steady increase in the demand for oxygen to treat COVID patients, CM Stalin directed the officials to set up oxygen manufacturing facilities in the State to tide over the shortage.
Apart from this, CM Stalin also directed the authorities to take steps to manufacture hi-tech equipment, oxygen concentrators, vaccines and drugs for treating COVID patients in the State through JV agreements.
TIDCO will extend all assistance and support to companies coming forward to manufacture essential drugs and oxygen in the State.