1st phase of Pharma City may commence operations by end of 2018: KT Rama Rao
Hyderabad : Telangana Industries Minister KT Rama Rao said the first phase of the proposed Pharma City near here is expected to commence operations by the end of 2018.
Replying to a query, during the question hour in the Legislative Assembly, KTR also said the government is in possession of over 5,646 acres of land so far for the industrial park.
The Telangana government had earlier said it would set up "Pharma City" which will have components and other related activities with regard to antibiotics, fermentation products, synthetic drugs, large volume chemical synthesis, intermediaries, vitamins, vaccines, drug formulations, nutraceuticals, herbal medicinal products, speciality chemicals, cosmetics among others.
"The project will help create one lakh direct jobs and another two lakh indirect jobs. The government intends to operationalise the first phase of the Pharma City by end of 2018", KTR told Assembly.
So far the government has received requisitions for land up to 8,500 acres from various companies for setting up shops in the Park, he said.
"The Pharma City is expected to attract investments up to Rs 75,000 crore from pharma, biotech and other related industries" the Minister added.
Later initiating a short discussion on the State industrial policy (TS-iPASS), KTR said so far, as many as 2,929 industries have been accorded approvals under the scheme involving an investment of Rs 49,463 crore, including the investments of state-owned power utility TSGENCO.
According to him, the new industries have created employment potential of five lakh jobs including about 2 lakh direct jobs.
The minister said 1,138 industries have actually started commercial production while 405 companies are in advanced stage of completion and balance are under various stages of construction.