Business Other News 10 Jul 2017 Shantha Biotechnics ...

Shantha Biotechnics decides to move project to Telangana

DECCAN CHRONICLE.
Published Jul 10, 2017, 12:57 am IST
Updated Jul 10, 2017, 12:57 am IST
Insuman cartridges are used to produce Insulin for diabetic patients.
The Hyderabad-based biotech company is an affiliate of Sanofi Pasteur, the vaccines division of global drug major Sanofi.
 The Hyderabad-based biotech company is an affiliate of Sanofi Pasteur, the vaccines division of global drug major Sanofi.

Vijayawada: Shantha Biotechnics has decided to shift its proposed Insuman cartridges project to Telangana as against its earlier preferred location in Andhra Pradesh.

Insuman cartridges are used to produce Insulin for diabetic patients. According to sources, Shantha Biotechnics chairman K.I. Varaprarasad Reddy has decided to set up the unit in Telangana as the Andhra Pradesh government had ignored his proposal to establish a factory that could have employed 200 at the initial stages and brought in an investment of Rs 85 crores.

 

The Hyderabad-based biotech company is an affiliate of Sanofi Pasteur, the vaccines division of global drug major Sanofi.

Sources said Shantha had approached the AP government with a detailed project report. The proposed unit will be second Insuman factory globally after the one in Frankfurt.

While the full project estimate is around Rs 500 crore, the initially cost is about Rs 85 crore. For this, the company requires around 14,000 sq mtrs. With the officials not responding on this, Mr Reddy had reportedly met Chief Minister N. Chandrababu Naidu for about 4 to 5 times.

 

However, with even Mr Naidu not reacting positively, Shantha had withdrawn its proposal to have its project at Vizag and shifted to Telangana.

The Telangana government welcomed the proposal and had provided all the facilities for the project. Responding to this newspaper, industries secretary Solomon Arokiaraj said he is unaware of this proposal as he is working as industries secretary since a year during which he hadn’t received such proposal and further said that this proposal might have been prior to his posting.

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