Ranbaxy to invest Rs 120 crore for R&D in Andhra Pradesh

Hyderabad: Ranbaxy Laboratories plans to invest about Rs 120 crore in its proposed research and development centre in an extent of 100 acres in the second phase of the Shapoorji Pallonji biotech park in Andhra Pradesh, according to B P Acharya, state secretary for industries and commerce.

Phase-2 of the SP Biotech Park in the Genome Valley comprises an area of 160 acres where Biological E, the city-based vaccine manufacturer, has already proposed to establish its unit in an extent of 50 acres.

Sigma Aldrix of the US has also evinced interest to set up a unit at the place. Over 80 per cent of the 140 acres area in the first phase of the valley has already been booked, Acharya said.

Briefing about the three-day Biotec India International 2003, an exhibition and conference on biotechnology to be held here from Wednesday, he said the state government is sponsoring 100 post-graduate students and members of the biotechnology faculty from colleges and universities to attend the conference at a very nominal fee.