AP offers 50 acre land to Avesthagen

Bangalore, Jun 8 (UNI) The Andhra Pradesh Government today offered 50 acres of land to biotech major Avesthagen for its expansion plan in the phase three of Genome Valley in Hydreabad.

While 15 acres of land was in Export Promotion Zone (EPZ), the remaining land was in non-EPZ biotech park being developed by the Andhra Pradesh Industrial Infrasructure Corporation.

Allotment letters for both lands was handed over to Avesthagen Founder Managing Director Dr Viloo Morawalla Patell by AP Director for Biotechnology Raveen K Reddy at the ongoing Bangalore Bio 2007 here.

Mr Reddy told newsmen that Avesthagen was already constructing its manufacturing facilities for biopharmaceuticals and bionutriton foods with an investment of around Rs.160 crore in a nine acre plot provided in the Genome Valley first phase. The production was expected to start in about 18 months, Dr Patell said.

He said apart from Biotech majors such has Bharat Biotech and Shanti Biotech, AP had received an investment of RS.1000 crore and over the next five years the investment was expected to scale up to Rs.15,000 crore and provide employment to around 5000 people.

In all 600 acres were being developed in Genome Valley third phase which included 100 acre land provided to the centre for setting up a Centre for translational research and epidemology being set up by the Centre for Cellular and Molecular biology under a CSIR project, with an investment of around Rs.1000 crore. AP government had also received the Centre's approval for setting up a large animal house for testing purpose, he said.

Speaking on the occasion Dr Patell said that the Company would concentrate both in Bangalore and Hyderabad with Bangalore being the hub for research and Hyderabad for production. In Bangalore Avesthagen has taken up a project for constructing a 13 storeyed building at the ITPL to house its R and D facilities in a 250,000 sq ft area.

UNI