The first phase of the proposed “Pharma City” in Telangana is expected to be operational by the end of 2018, Telangana Industries Minister KT Rama Rao said recently during the question hour session in the legislative assembly.
“The project will help create one lakh direct jobs and another two lakh indirect jobs. The government intends to operationalise the first phase of the Pharma City by end of 2018,” Rao said in a reply to a query.
According to an earlier announcement, the “Pharma City” will have components and other related activities with regard to antibiotics, fermentation products, synthetic drugs, large volume chemical synthesis, intermediaries, vitamins, vaccines, drug formulations, nutraceuticals, herbal medicinal products, speciality chemicals and cosmetics among others.
The minister said the government is in possession of over 5,646 acres of land so far for the industrial park and has received requisitions for land up to 8,500 acres from various companies for setting up shops there.
“The Pharma City is expected to attract investments up to Rs 75,000 crore from pharma, biotech and other related industries” Rao said.