The Telangana government on Thursday said the proposed Pharma City near here is expected to generate investments worth Rs 64,000 crore and provide direct and indirect employment to 5.60 lakh people.
The Hyderabad Pharma City project has received overwhelming response from the industry stakeholders, Telangana Minister for IT and Industries KT Rama Rao said.
Over 100 large industries and about 200 MSMEs have submitted expression of interest to establish their units across the value chain of pharmaceuticals including Research and Development, Active Pharmaceutical Ingredients, biological manufacturing among others, Rao noted.
The project would enable creation of employment opportunities for skilled, semi skilled and unskilled workers of Telangana.
“The cost for development of infrastructure in the project is estimated about Rs 16,784 crore.
After complete implementation of the project, it is expected to generate investments of about Rs 64,000 crore and provide direct and indirect employment to about 5,60,000 persons,” the minister said. – Business Standard