KTR lays foundation for BE’s vaccines plant at Genome Valley
Hyderabad: Minister for Industries and Municipal Administration K Taraka Rama Rao has laid the foundation stone for a new vaccines plant on the city outskirts. It is being constructed by Biological E. Limited (BE) in the Special Economic Zone (SEZ) at Genome Valley in Kolthur village.
Among those present at the inauguration on Monday were Dr Paul Stoffels, Worldwide Chairman, Pharmaceuticals, Johnson & Johnson (J&J), Mahima Datla, Managing Director, BE, Jayesh Ranjan, IT Secretary, Soumya Swaminathan, Director-General, Indian Council of Medical Research, and M. Sudheer Reddy, Medchal MLA.
KTR appreciated the expansion efforts of Biological E. Limited in being aligned with the State Government’s vision of industrial expansion, creation of employment and the commitment to make Hyderabad an industrial hub in India and thus realize the dream of Chief Minister K. Chandrasekhar Rao. He also recalled that BE, as one of the foremost pharmaceutical & biological companies in India, contributes significantly to the Universal Immunization Programme launched by the Centre.
Welcoming the gathering, Mahima Datla thanked KTR and Dr Stoffels for laying the foundation for the new vaccines plant at the recently approved SEZ. The MD also appreciated the efforts of the Telangana State Government in general and KT Rama Rao in particular for helping the investors and entrepreneurs in setting up new ventures and industries and creating a conducive environment for smooth execution of business operations.
Mahima said BE was planning an initial investment of Rs 300 crores in this new plant, which would help the existing vaccines plant augment the production and manufacture new products that are in the pipeline. This investment is in line with and part of the already earmarked overall outlay of Rs 1,000 crores in the Genome Valley across BE’s vaccines & pharma businesses that are under way. The construction of the new SEZ vaccines plant on 29 acres would be completed by April next year and commercial production is expected to begin by December 2019. Mahima also said by the time BE’s expansion initiatives in the Genome Valley are completed, an additional employment opportunity for around 1000 people would be generated. –NSS