The Hindu : Andhra Pradesh / Hyderabad News : State hopeful of a bio-tech bounty

Online edition of India's National Newspaper
Wednesday, Feb 14, 2007
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Andhra Pradesh

Andhra Pradesh - Hyderabad

State hopeful of a bio-tech bounty

Special Correspondent

More than 700 cr. in investment expected; `Bio-Asia' to begin tomorrow

HYDERABAD: The State Government is expecting investments of more than Rs. 700 crores by bio-tech companies for setting up their facilities in the Genome Valley in Hyderabad.

At a press meet on Tuesday, Raveen K. Reddy, Additional Secretary (Industries), said that the Bangalore-based Biocon was in talks with the Government for establishing a unit either in Genome Valley-III or in Visakhapatnam.

B. P. Acharya, Managing Director, Andhra Pradesh Industrial Infrastructure Corporation, said 600 acres had been identified for Genome Valley's third phase, including a 60-acre Special Economic Zone in Medak district.

Meanwhile, leaders in the field of biotechnology, scientists, diplomats and entrepreneurs will attend the three-day `Bio-Asia-2007' to be inaugurated by Chief Minister Y. S. Rajasekhara Reddy here on February 15.

Billed as Asia's premier biotechnology event, more than 50 exhibitors and 500 delegates, attending the fourth edition, being hosted by the Federation of Asian Biotech Associations (FABA) and the State Government.

Kiran Mazumdar-Shaw, CMD Biocon, would chair the `CEO conclave'. The event would also see the launch of Bio-Asia Innovation Award 2007 for a young scientist. It carries a cash prize of Rs.1 lakh and a citation.

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Andhra Pradesh