Stating that Hyderabad is emerging as the hub for research and innovation in the life sciences and biotechnology sector, Telangana IT and Industries Minister K T Rama Rao said close to Rs 3,000 crore of investments are lined up in the sector in the State.
Speaking at the inauguration of BioAsia-2017 , he said that an Industrial Area Local Authority (IALA) will be created to aid companies operating in the cluster and attract more companies to invest in the region. As part of the event, a dedicated life sciences infrastructure fund has been announced valued at Rs 1,000 crore.
Moreover, he said Genome Valley near Hyderabad has created an ecosystem that is attracting companies. About 200 companies employing 10,000 are taking up pre-clinical research, drug discovery and vaccines development.
The government is making efforts to speed up the execution of 14,000-acre pharma city which will house bulk drugs and formulations manufacturing and research and development facilities with all the needed Infrastructure. Environmental clearances for the units can be provided by the cluster authority, he added.
Meanwhile, the minister also said his father and Chief Minister K Chandrasekhar Rao’s vision is to make Hyderabad an premier `industrial hub’ in the country. Thus, he said he wish to realise the dream of `Bangaru Telangana’ (Golden Telangana).
He unveiled the foundation for the construction of the Rs. 300 crore Special Economic Zone (SEZ) vaccine manufacturing centre at Genome Valley of city-based Biological E Limited (BE) got underway.
The construction of the new SEZ vaccine plant in the 29 acre land will be completed by April, 2018 and commercial production of vaccines are expected to begin by December 2019, said its Managing Director Mahima Datla.
With a cumulative investment of about Rs. 3000 crores, these initiatives mark the beginning of next wave of development – Genome Valley 2.0
— KTR, Former Minister (@MinisterKTR) February 6, 2017
We are confident that the Hyderabad Pharma City will help our companies become more cost competitive in the international market
— KTR, Former Minister (@MinisterKTR) February 6, 2017
We are very excited to host 1,500 delegates from around 50 countries who have assembled in Hyderabad to be a part of @BioAsia2017 pic.twitter.com/2YebRuOBvL
— KTR, Former Minister (@MinisterKTR) February 6, 2017
