Corporate
-
Research & Development
States
-
Andhra Pradesh
Avestha Tech plans to invest in biotech park
Our Bureau
Advertisement
|
|
Hyderabad
Feb. 15
Avestha Gengraine Technologies, a Bangalore-based biotechnology company, plans to invest about Rs 100 crore in Hyderabad to take up expansion and new research projects here.
The company had earlier acquired a nine-acre site at the SP Biotech Park in the Genome valley near here and is in the process of setting up a manufacturing unit and related research facilities. In fact the company had acquired Good Earth with a facility here some years ago.
The Senior Vice President, Avestha Gengraine, Mr Manan Bhatt told Business Line that the company had recently informed the State Government about its plans to expand operations here with a new manufacturing and research facility. The money would be invested over the next two to three years.
During his visit to the Bio-Asia meet here, Mr Bhatt had said that the project would not only cater to the agri-biotech industry's growth but also generate employment.
The company has about 55 patents in the agri-biotech business domain and has a range of hybrid seeds in the pipeline. The company recently announced that it had raised funding of about Rs 150 crore from Groupe Danone, Groupe Limagrain and two other strategic investors.
More Stories on :
Research & Development |
Bio-tech & Genetics |
Andhra Pradesh
Article
E-Mail
::
Comment
::
Syndication
::
Printer Friendly Page
|
