Genome Valley Expansion Is Planned in 300 Acres: Revanth Reddy
Hyderabad: Chief Minister A. Revanth Reddy on Tuesday said that the state government would expand the life sciences cluster by another 300 acres soon. “This will mark the Phase II of the project,” he said.
Inaugurating the 21st edition of the life sciences industry event BioAsia, organised by the government of Telangana on Tuesday in Hyderabad, he said that the government has drawn up plans to set up three pharma villages in Vikarabad, Medak, Nalgonda districts. IT and industries minister D. Sridhar Babu and several industry leaders were present at the event.
“Genome Valley will be established in 300 acres with an investment of Rs 2,000 crore. The process of setting up 10 pharma villages with an investment of Rs 1 lakh crore has begun,” Revanth Reddy said.
“This will open up enormous opportunities for aspiring entrepreneurs. The new facilities will provide five lakh jobs. These greenfield facilities will be convenient for all entrepreneurs of the world as they will be located close to the Hyderabad International Airport.”
In addition to these projects, he said seven similar facilities would be developed in other districts in subsequent phases.
The BioAsia event has become crucial amid raising health concerns around the world after the Covid pandemic. Revanth Reddy said that Hyderabad as the capital of bioscience had created confidence in mankind. “Today, one in every three vaccines used in the world is being produced in Hyderabad,” Revanth Reddy said.
He pointed out that Covid has proved that everyone in the world has the same problem in providing health security. Solutions to the problems should be achieved by working together, he said.
“Our government is committed to developing Hyderabad, which is already the capital of IT software, research, and start-up sectors, in the biosciences sector also. The international and domestic organisations have consolidated the systems which are necessary to carry out their activities here without hurdles. The government is giving priority to the MSME sector, which creates a bridge between small start-ups and big corporations. The government is ready to fulfil the dreams of investors and entrepreneurs to grow,” Revanth Reddy said.
“Telangana state has already received huge investments of Rs 40,232 crore in the recently-held World Economic Forum at Davos,” he said. He welcomed Japanese multinational pharmaceutical company Takeda entering into an agreement with Biological E to produce five crore vaccine doses annually.
Later, Revanth Reddy presented the Genome Valley Excellence 2024 Award to Nobel Laureate Prof. Greg L. Semenza. IT and industries minister D. Sridhar Babu was present.
Terminus Group and Rx Propellant will invest about Rs 2,000 crore for the development of three million square feet of life sciences and supporting infrastructure and create employment for about 10,000 people.
