Hyderabad, Nov 19 (UNI) Andhra Pradesh Industrial Infrastructure Corporation Limited (APIIC) has proposed to set up a Pharma Formulations Special Econonic Zone (SEZ) at Jadcherla in Mahaboobnagar district.
Hyderabad has been the center of pharma formulation and bulk drugs industry in the country and in order to further consolidate the position, the APIIC decided to set up SEZ in an area of 250 acres, an official release said here yesterday.
The SEZ was formally approved by the Union Ministry of Commerce, last month.
Leading pharma and formulation companies like M/s Hetero Drugs and M/s Aurobindo Pharma had come forward to be anchor tenants, for setting up state-of-the-art formulation facilities with export orientation.
Allotment letters for leasing 75 acres of land to each of these companies were handed over by Chief Minister Y S Rajasekhara Reddy today. The projected total investment of these two companies would be around Rs 200 crores with an employment generation potential of over 2000, the release added.
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