Govt to approve 6 pharma parks with Rs 180 cr investment

Out of the six parks to be allocated, three will be greenfield and remaining three will be brownfield, said Ananth Kumar

Government is set to approve six pharma parks this year at an estimated investment of Rs 180 crore to promote the pharmaceuticals manufacturing.

"This year the six pharma parks will be allocated on pilot basis and in the next year my ministry will seek Rs 1,000 crore from Finance Ministry for setting up of parks across the country," Fertiliser and Chemicals Minister Ananth Kumar said inaugurating the launch of "Cluster Development Programme of Pharma Sector here today.

Kumar said out of the six parks to be allocated, three will be greenfield and remaining three will be brownfield.

The Minister also mentioned that there will be sufficient infrastructure and facilities in these parks, for testing and treatment of drugs and also for imparting training to industry professionals.

"These parks will go a long way in ensuring health security for the country. Our broad objective is the availability of quality medicines at affordable prices," Kumar added.

Speaking at the event Secretary Pharmaceuticals V K Subburaj said that government will provide a grant of Rs 20 crore for each park totalling to Rs 125 crore.

"The investment on these parks will be around Rs 180 crore, out of that Rs 125 crore will be given by the government as grant," Subburaj told reporters.

Department of Pharmaceuticals has appointed Projects and Development India Ltd (PDIL) as project management consultant for these pharma parks.

The parks will be implemented through SPV, in which pharma enterprises will have 51 per cent stake, the remaining stake may be held by government agency, financial institution or strategic partner.