Hindustan Latex (HLL)has signed a memorandum of understanding (MoU) with Infrastructure Leasing and Financial Services (IL&FS) for developing an integrated medical devices and diagnostic manufacturing park (MediPark) at Chengalpet near Chennai, Tamil Nadu.

The 330-acre MediPark would be developed on public-private-partnership basis and the project outlay for infrastructure development is expected to be around Rs 100 crore.

The MediPark will manufacture medical devices, equipments and medical diagnostics. It will also house a sterilisation centre, testing and quality control facilities, waste disposal facility, logistics hub etc. IL&FS, the project consultants, would identify the prospective investors and provide engineering and financial services.