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Shapoorji Pallonji, AP govt sign pact for Rs 800-mn biotech park

Syed Amin Jafri in Hyderabad

The Andhra Pradesh government has entered into a memorandum of understanding with Shapoorji Pallonji & Company, a leading Bombay-based construction company, for the development of Biotech Park at Turkapalli, about 35 kms from Hyderabad.

The biotech park, spread over 150 acres adjacent to existing ICICI knowledge park, would provide international class infrastructure for setting up biotech manufacturing units, complementing the research and development units to be set up in ICICI knowledge park.

This is a major initiative taken by the government to give a boost to the biotech sector in the state and to tap the huge potential for growth in this sector. The biotech park would form part of the proposed 'Genome Valley' in Ranga Reddy district, spread over 600 sq km.

The MoU for biotech park was signed by B P Acharya, secretary, industries & commerce department, Andhra Pradesh, and Zafar Iqbal, chief executive (real estates), Shapoorji Pallonji & Co, in Hyderabad on Wednesday in the presence of D Balasubramaniam, chairman and other members of the biotech advisory committee of Andhra Pradesh.

The state-of-the-art facility would be completed in four and a half years. It comprises three phases and the total project cost is Rs 800 million. The promoter offered to bring in Rs 50 million towards equity contribution and Rs 10 million towards bank guarantee. It would plough back into the venture all returns for the first five years, he added.

The biotech park would provide all the necessary infrastructure and suitable environment for the development of the sector.

In the first phase, it would focus on bio-pharma, health care and agri companies in the first phase and act as a catalyst to attract the biotech industry to the state.

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