Chief Minister Revanth Reddy directed officials to allocate the necessary land and provide infrastructure within four months so that construction can begin without delay.
Published Nov 23, 2024 | 10:13 AM ⚊ Updated Nov 23, 2024 | 10:13 AM
Chief Minister Revanth Reddy and Minister Sridhar Babu. (TelanganaCMO/ X)
Telangana Chief Minister Revanth Reddy on Friday, 22 November, met representatives of pharmaceutical firms along with state industries minister D Sridhar Babu. Memoranda of Understanding were signed with the leaders of the industry, with a proposed investment of over ₹5,260 crore.
The chief minister has earlier expressed keenness on the completion of the Pharma City on the outskirts of the state capital Hyderabad, in the Mucharia area that falls within the Rangareddy and Mahabubnagar districts.
According to the press release from the Telangana Chief Minister’s Office, discussions on Friday focused on investments and collaboration with the state government so that pharmaceutical manufacturing could get a boost in the state.
It is expected that around 12,490 people would get employment, once the investments proposed by the firms that met the chief minister on Friday are made.
The aim of these investments would be to expand the operations of the pharmaceutical sector and establish eco-friendly pharmaceutical manufacturing units that do not pollute the neighbourhood or cause concern for the local population.
Among the officials attending the meeting was the chairperson of the Telangana State Innovation Cell, Nirmala Jagga Reddy. Special secretary to the chief minister Ajit Reddy and the secretary of the state Industries Department Jayesh Ranjan.
Memoranda of Understanding were signed between the state government and the MSN Group, a research-based pharmaceutical company operating with Hyderabad as headquarters, multinational biotechnology and pharmaceutical Laurus Labs, also an Indian firm, generic injectable manufacturer Gland Pharma, established in Hyderabad in 1978, another Hyderabad-based multinational pharmaceutical company Dr. Reddy’s Laboratories, Aurobindo Pharma, headquartered at Hitec City, Hyderabad, and Hetero Labs, a manufacturer of active pharmaceutical ingredients and generic formulations.
Land in the Pharma City has already been earmarked for these projects, ensuring the establishment of necessary units.
The key projects planned at Pharma City through these MoUs include:
Chief Minister Revanth Reddy directed officials to allocate the necessary land and provide infrastructure within four months so that construction can begin without delay.
Among the leaders of the pharmaceutical industry present at the Friday meeting with the CM were Satish Reddy, director of Dr Reddy’s Laboratories, Executive Director VV Ravi Kumar of Laurus Labs, CEO Srinivas of Gland Pharma, CMD MSN Reddy of MSN Labs, director of Aurobindo pharma Madan Mohan Reddy, and Hetero Group MD B. Vamsikrishna.
(Edited by Rosamma Thomas)
