The Hindu Business Line : DuPont, Biocon keen to move into Genome Valley

Industry & Economy - Bio-tech & Genetics
Corporate - Mergers & Acquisitions
States - Andhra Pradesh
DuPont, Biocon keen to move into Genome Valley

Our Bureau

Offer letter given to 3G Biotech: Minister

Hyderabad , Dec. 22

The Genome Valley project, promoted by the Andhra Pradesh Government to make the State a hub for biotechnology companies, will get a shot in the arm with major companies DuPont and Biocon showing keen interest in locating facilities here.

According to Mr Raveen K. Reddy, Director of Biotechnology in the Andhra Pradesh Industries and Commerce Department, DuPont is likely to set up one of the biggest research and development centres in the ICICI Knowledge Park.

Rs 100-cr investment

The company is likely to line-up investments to the tune of Rs 100 crore in three years in the field of naobiotechnology. "The process is in the advanced stages of completion," he said. The Bangalore-based Biocon too showed interest in setting up a 15-acre facility either in Hyderabad or Visakhapatnam. Another company 3G Biotech, promoted by non-resident Indians, has been given an offer letter, allotting five acres, the AP Minister for Major Industries, Sugar and Tourism, Dr J. Geeta Reddy, said.

The company would make an initial investment of $25-30 million.

75-acre SEZ

Mr B.P. Acharya, Vice-Chairman and Managing Director of AP Industrial Infrastructure Corporation, said the 400-acre third phase of Genome Valley would house 75-acre special economic zone and Shanta Bio's 62-acre facility. GVK Bio too is interested in setting up a facility.

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