Industry & Economy
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Education
Life sciences project gets 30-acre site
Our Bureau
Hyderabad
,
Feb. 9
IN a move towards the creation of the Indian Institute of Life Sciences, a centre of excellence for research and development and training for the life sciences sector, the Andhra Pradesh Government has endorsed the project, allotted a 30-acre site and decided to part-fund with a corpus of Rs 10 crore for this public-private partnership initiative.
This centre of excellence to come up near the Indian School of Business (ISB) and contiguous with the Central University located here, would have participation from Dr Reddy's Laboratories, Ranbaxy Laboratories, Teamsec of Singapore, Novartis and both State and Central Governments.
The State Cabinet, which met recently, approved the establishment of this centre, which would focus on drugs and pharmaceuticals and biotechnology, and the Government has allotted a 30-acre site for the proposed centre. A memorandum of understanding for the project was signed last year.
Of the Rs 60 crore required for this research centre, the State Government would provide Rs10 crore, Dr Reddy's Rs 10 crore, other private industry players and the Centre are likely to invest in this venture.
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