Biocon plans Rs 1,000 cr biopharma project at Vizag

Hyderabad, Feb 16 (UNI) Biotech major Biocon Ltd will invest about Rs 1,000 crore to set up a biopharma project in Visakhapatnam district of Andhra Pradesh.

The Project will be set up in Jawahar Pharma City, a Special Economic Zone being developed at Atchutapuram Mandal of the same district, a statement from Chief Minister's Office said.

Company Chairman and Managing Director Kiran Mazumdar Shaw, who is here in connection with Bio-Asia 2007 conference, today met Chief Minister Y S Rajasekhara Reddy at his Camp Office and made the announcement.

Dr Reddy handed over the allotment letter to Ms Shaw for 50 acres in Visakhapatnam SEZ to set up the project.

The SEZ has state-of-the-art common effluent treatment plant with marine discharge facility.

''This marks a significant development, as Biopcon is one of the major anchor investor in this SEZ,'' Dr Reddy said.

Biocon Ltd was also availing ten acre land in Hyderabad Bio-tech SEZ being developed by APIIC, the statement added.

UNI