Home  >  TopNews
Corporate + Font Resize -

Pharmacity project in Telangana soon to get NIMZ status; to attract Rs. 60,000 crore investment in pharma sector

A Raju, Hyderabad
Tuesday, April 17, 2018, 08:00 Hrs  [IST]

If everything goes as expected, the Telangana state government’s pet project ‘The Pharmacity’ is soon going to get National Investment Manufacturing Zone (NIMZ) status. According to official sources, the state government had long back requested the central government to give NIMZ status to the pharmacity project floated by the state government in the year 2015. However, it has taken more than 3 years for the state and Central governments to complete all the formalities and finally the centre is expected to formally announce the NIMZ status to the pharmacity project.

“The pharmacity is expected to come over more than 19,300 acres of land on the outskirts of Hyderabad. Once the formal notification of NIMZ status is released, we are expecting a huge investment of more than Rs. 60,000 crore in the newly established Pharmacity. In the first phase we have already acquired 8,300 acres of land and the state government has given assent to the Telangana State Industrial Infrastructure Development Corporation (TSIIDC) to build roads, drains and erect water and powerlines for the pharmacity. The pharmacity project is one of the largest projects in the country and it will be built by complying wilth all the international regulatory standards,” informed Taraka Rama Rao, the Industries, IT and MAUD minister.

Once the pharmacity comes into being, it will be one of the most modern industrial zones in the country with all kinds of facilities for the investors to set up their manufacturing units. With the central government giving green signal and soon expected to give a formal notification for NIMZ status it will give all the more boost for the fast development of the pharma sector in the state.

Even though the state government had earlier agreed informally for NIMZ status, it had taken more than 3 years for it to get clearances from the ministry of commerce and other departments like forest and pollution control boards. The IT and Industries minister of Telangana Taraka Rama Rao has played a vital role in getting the NIMZ status.

The pharmacity project is expected to provide jobs to more than 4.2 lakh people directly and indirectly. According to official sources from the Bulk Drugs Manufacturing Assocation (BDMA), the pharmacity is expected to provide direct jobs to more than 1.70 lakh people, while remaining will be getting indirect jobs. The main concept of pharmacity is to make it a one stop shop where in it will have Pharma University, research institutes and manufacturing zones in one place. The pharmacity will also have residential township providing accommodation for the employees and staff working in the pharmacity.

Already the state government has spent Rs. 500 crore for the land acquisition and acquired more than 8,300 acres of land.  Of the 100 pharma companies accommodating in the pharmacity only 24 per cent of them will be red category polluting industries while remaining 76 per cent of companies will be of orange category.

 

*POST YOUR COMMENT
Comments
* Name :     
* Email :    
  Website :  
   
     
Krishnakumari padakanti Apr 17, 2018 2:18 PM
Good news.
 
Chemspec_India-2018
IPE_2018_Banner_150X60
InnoPack-Pharma_150x60_2018
GPRS_150x60_2018
cphikorea_150x60_saffron media
Chemspec_India-2018
IPX_Logo_2018_150x60_web
CPHI18_banner_150x6
CPhI_China_150x60-2018
CPhI_Japan_150x60_2018
PharmaTech_Expo_2018
VF118_Banner_150x60_E_D2
duphat_150x60
IPJPI18_150x60en_2018
 
 
 
 
Copyright © 2016 Saffron Media Pvt. Ltd |