Upcoming Pharma City project to generate Rs 64000 crore investments: Minister informs Telangana assembly

The Hyderabad Pharma City project has received an overwhelming response from the industry stakeholders, Telangana Minister for IT and Industries KT Rama Rao said. He was responding to a query in the state assembly.

Hyderabad: The Telangana government on Thursday said the proposed Pharma City near here is expected to generate investments worth Rs 64,000 crore and provide direct and indirect employment to 5.60 lakh people.

The Hyderabad Pharma City project has received an overwhelming response from the industry stakeholders, Telangana Minister for IT and Industries KT Rama Rao said. He was responding to a query in the state assembly.

Over 100 large industries and about 200 MSMEs have submitted an expression of interest to establish their units across the value chain of pharmaceuticals including Research and Development, Active Pharmaceutical Ingredients, biological manufacturing among others, Rao noted.

Read Also: Elbrit Life Sciences to expand production capacity with over Rs 13 crore investment

The project would enable creations of employment opportunities for skilled, semi-skilled and unskilled workers of Telangana.

"The cost for development of infrastructure in the project is an estimated about Rs 16,784 crore. After the complete implementation of the project, it is expected to generate investments of about Rs 64,000 crore and provide direct and indirect employment to about 5,60,000 persons," the minister said.

The Pharma City will come up over 19,000 acres in Ranga Reddy district.

Read Also: China province eyeing investment opportunities in an Indian medical sector