The third phase of Genome Valley Biotech Project, the first state-of-the-art biotech cluster in the country for life science research, training, collaboration and manufacturing activities, is expected to be fully operational by the end of 2009, it is learnt.
The third phase of the project, development of which has commenced last year, is coming up in an area of 414 acres with an investment of Rs 300 crore. The Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC) is in charge of the third phase development. As per the APIIC sources, it is in the process of developing infrastructure, including roads, and is expected to be completed by the end of 2009. Out of the 414 acres, 100 acres will be developed as a special economic zone (SEZ). The APIIC has already allotted 25 acres to the Parsvanath Developers, which has received approval to develop the area as SEZ.
Speaking to Pharmabiz, Raveen K Reddy, director of biotechnology, Government of Andhra Pradesh, said that the APIIC is in charge of developing the third phase and they have already started developing it.
The APIIC is in the process of developing the infrastructure in the third phase. However, unlike in the phase I and phase II, which is developed by a consortium of Andhra Pradesh government and Shapoorji Pallonji Company, in the third phase the individual companies have to set up buildings and other research facilities. In the first two phases the consortium has developed facilities such as buildings and research and development (R&D) labs and leased out to the companies.
It is learnt that companies such as Neogen, Avasthagen and a few others have already occupied land in the third phase. Several others are also expected to occupy in the near future. It is also learnt that several Non Resident Indian researchers have approached the APIIC to set up research centres and is expected to reach an agreement in the next few months.