The Hindu : Andhra Pradesh News : Mega investment in biotech sector on the anvil

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Thursday, Jan 17, 2008
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Andhra Pradesh

Andhra Pradesh

Mega investment in biotech sector on the anvil

HYDERABAD: Investments of Rs.1,730 crore in the State’s biotech sector are in the pipeline, even as the three-day fifth edition of the global bio-business forum---Bio-Asia 2008---is slated for launch by vice-president Hamid Ansari here on February 7.

Briefing reporters on the upcoming event, Major Industries J.Geetha Reddy said that investments worth Rs.320 crore had flowed into the State since Bio-Asia I. The proposed investments include Rs.1,000 crore from Biocon, Rs.500 crore (Avesthagen) and Rs. 300 crore (Dupont). The investments were expected to create employment for about 60,000 people.

Besides opening Bio-Asia meet, the vice-president would lay the foundation stones for the Rs.500-crore National Animal Resource Facility for Biomedical Research, Rs.150-crore Centre for Stem Cell Sciences and inaugurate the Rs.30-crore biotechnology incubation centreset up jointly by the Indian Institute of Chemical Technology and the Department of Biotechnology. An amount of Rs.250 crore would be invested in the first phase of the national animal resource facility for biomedical research.

A major feature of the Bio-Asia meet this year would be the participation of two Nobel laureates---Sir Martin J Evans and Barry J Marshall---who will deliver lectures.

Shanta Bio export

City-based Shanta Biotechnics Ltd will export additionally TT vaccine this year, K.I. Varaprasad Reddy, CMD, told reporters here on Wednesday.He said that hepatitis B vaccines worth half a million $ US were exported last year. The exports were expected to be around $ 1.3 million in 2008-09.

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