Hyderabad : The Hyderabad Pharma City (HPC), the flagship pharma park being developed by the Telangana Government, has been drawing enthusiastic response from the industry.
“So far, about 500 pharma and life sciences companies have expressed interest in setting up facilities in the upcoming city,’‘ a senior official of the Telangana State Industrial Infrastructure Corporation ((TSIIC) told businessline on Thursday.
HPC is proposed to be developed as the world’s largest integrated cluster in Hyderabad for pharmaceutical industries, thrusting on R&D and manufacturing and is expected to attract investments to the tune of $10 billion.
All domestic and global pharma majors are ready to set up their units in the pharma city coming up at about 25 km from Shamshabad airport, the official said, adding: “The entire land acquisition for the project has been completed.’‘
While the Government was keen on launching the project formally a few months ago, a small part of the land acquired got into legal issues and the matter is pending before the High Court now. “The matter is subjudice now. We can’t say more. However, we will proceed with allotment of land in HPC for the manufacturers immediately after the matter is resolved,’‘ he said.
According to the Government data, the life sciences sector in Telangana attracted ₹6,400 crore investment from 215 companies in 2021-22 which was 200 per cent more than the investment attracted by the industry at ₹2,766 crore from about 150 companies in FY21. The data for FY23 is yet to be released.