BS Reporter / Chennai/ Hyderabad Jan 29, 2009, 00:47 IST
The Phase III of Genome Valley Biotech Park was inaugurated on Wednesday.
Nineteen companies have confirmed setting up their operations here on the 600-acre facility at Karakapatla, near Shamirpet on the outskirts of Hyderbad.
Globion Global Biotech Solutions is the first company to launch its operations for its parent company Suguna group.
Globion India Provevt Limited general manager (biotechnology) DK Dey said the Suguna group, a major player in poultry business, has now ventured into the biotech research and development segment and is investing Rs 50 crore. The production of animal vaccines for viral and bacterial diseases will begin in the next six to seven months. About 400 local residents will be employed in this project.
Indian Immunologicals Limited will be the second unit to start operations. The company would invest Rs 100 crore in the project and has already been allotted 50 acres by the AP Industrial Infrastructure Corporation.
Since the biotech cluster was started in 2001, Andhra Pradesh has attracted over Rs 5,000 crore. APIIC has helped develop more than 1,000 acre towards this cluster, a release said.
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