CIPET is managed by the Union Ministry of Chemicals and Fertilizers.
"The institute offers diploma and and engineering degree courses and it already has a branch in Aurangabad. The Chandrapur unit, for which the state has agreed to provide 15 acres land, would have 2,500 seats," Ahir said at a press conference here.
Along with the National Institute of Pharmaceutical Engineering Research (NIPER) proposed in Nagpur, it would add to the region's growing importance as an academic hub, the Union Minister of State for Chemicals and Fertilizers added.
Stents used in heart surgeries could be one of the products which could be produced at this park, he said adding, "Currently, cost of a stent runs into couple of lakh rupees as it is imported. If produced domestically, the cost could come down to around Rs 20,000 only."
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Among other plans of his ministry, Ahir said bulk drug parks would be established in Maharashtra, Telangana and Gujarat.
"There is a proposal to start a park in Aurangabad, where the state government is willing to provide 200 acres of land," Ahir said.