The Hindu Business Line : APIDC to focus on ITES, biotech projects

THE Andhra Pradesh Industrial Development Corporation (APIDC) is concentrating on promoting IT-enabled services and biotech projects in the State and the entrepreneurs outside Hyderabad should also make use of the opportunities in the two vital sectors, Mr S.M Balasubramaniyam, the Managing Director, has said.

He was addressing the local entrepreneurs at an interaction session organised by the APIDC here on Friday. He said the corporation had floated three venture funds — one general fund and the other two for bio-tech and IT projects.

He said MoUs had been signed for 41 projects in the State, 11 of them being bio-tech projects. A bio-tech project was being set up in Hyderabad for the benefit of entrepreneurs, he added.

Mr P. Nageswara Rao, Executive Director, said the State had emerged in recent times as one of the three favoured destinations for investors.

Dr Sampath Kumar, of the Indian Institute of Chemical Technology (IICT), Hyderabad, said the institute had developed and transferred many industrial technologies and was currently working on HFC 134-a, a chloroflurocarbon (CFC) substitute, which can be used in refrigerators.

He said as CFCs would have to phased out by 2005, the indigenously-developed technology would be of great value to the industry. A pilot project, costing Rs 5 crore, had been set up to test the technology and it may be commercialised in a year or so.

He said the entrepreneurs in the State should also make use of the technology by the IICT for manufacture of edible grade ricebran oil and with an additional investment of only Rs 40-50 lakh to modify the units, they would be able to gain substantial profits.

Dr Haribabu, also of the IICT, said the institute was striving to improve the environment surrounding the industrial units in Hyderabad, especially the bulk drug units.

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