Hyderabad: The newly elected Congress government will start reviewing major industrial investment projects, including the mega USD 10-billion or Rs 83320 cr Hyderabad Pharma City (HPC) project, which was flagged of by the former IT minister and BRS working president KT Rama Rao.
“There have been some issues in the land acquisition for the HPC, including some legal tangles, as some of the farmers are opposing the land acquisition modalities. A review of the project is almost certain,’‘ a senior official was quoted by the The Hindu Businessline.
It should be noted that the former Telangana government delayed the project citing various issues. They said around 500 pharmaceutical and life sciences companies wanted to build in the new city, and they were ready to allocate space to over 100 of them.
Just before the elections, the then IT minister KTR mentioned that both local and international big pharmaceutical companies were ready to set up facilities in the state.
During 2021-22, the state attracted Rs 6,400 crore investments from 215 companies, which is 200% more than the investment attracted by the life science sector inductry at Rs 2,766 crore from about 150 companies in the financial year 2021; according to government data.
Local farmers have raised objections to the project stating they will lose their land in the name of development and no proper compensation is provided.
The BRS government had planned to acquire 18,000 acres of land, of which 10,000 acres have been already attained.
