Minister for Industries and Municipal Administration today laid the foundation stone for a new vaccines plant, being constructed by Biological E. Limited (BE) in the Special Economic Zone (SEZ) at Genome Valley in Kolthur village on the city outskirts.
The Minister was accompanied by 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, at the inaugural function.
Speaking on the occasion, the minister 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 – the creation of Bangaru Telangana. He also recalled that BE, as one of the foremost Pharmaceutical & Biologics Companies in India, being based out of the State of Telangana, inaddition to substantial exports of vaccines, contributes significantly to the Universal Immunization Program 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 State Government in general and K T 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.
About the plant, Mahima said BE was planning an initial investment of Rs 300 crore 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 crore in the Genome Valley across BE’s Vaccines & Pharma businesses that are underway. 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)