Biocon Ltd, the country''s largest biotechnology firm,
plans to invest Rs1,000 crore ($227 million) to set up
a bio-pharma plant in Andhra Pradesh. The new facility
will come up at the pharmaceutical special economic zone
this, Biocon chairman and managing director Kiran Mazumdar-Shaw
said the company would become one of the major anchor
investors at the Jawahar Pharma City, an SEZ being developed
by the Ramkey group near Visakhapatnam.
Andhra Pradesh government has allotted 50 acres of land
for the project and chief minister Y S Rajasekhara Reddy
handed over the allotment letter to Shaw. Shaw was in
AP to participate in the Bio-Asia conference.
company is also taking a 10-acre land in a biotech SEZ
in Hyderabad to be developed by Andhra Pradesh Industrial
Infrastructure Company. Shanta Bio is the anchor client
for this SEZ.
has promised Biocon uninterrupted power and water supply.
Biocon has a huge R&D facility in Bangalore and Shaw
said the facility would be used for carrying out research
activities. All manufacturing-related work will be shifted
to at Vizag, she added.