AP gives prority for bio-technology: CM

Hyderabad, Feb 15 (UNI) Andhra Pradesh Chief Minister Y S Rajasekhara Reddy said the state government has given priority for bio-technology to promote the global bio-business opportunities in the state.

Inaugurating Bio-Asia, the global bio business forum at the Hyderabad International Convention Center here this evening, the Chief Minister said fast changes were taking places in Bio-technology after the IT revolution were well recognised by the state government.

He said creation of Genome Valley, the first biotech cluster, establishment of biotech parks and SEZs in various parts of the state along with Agri-Biotech park at ICRISAT were already creating a congenial environment in promoting biotechnology in the state.

He said the state government had created dedicated Venture Capital Fund for biotech industries for the first time in the country.

He said since last year, the government had facilitated more than 50 potential companies in the biotechnology sector which required support to invest in the state. He said the total investment in the sector was expected to cross Rs 200 crore in the next five years and expected to provide employment to more than 1,000 people.

He said Institute of Life Sciences Sector was set up at Hyderabad University.

UNI