Lonza AG of Switzerland, a major bio pharma companies, will invest about Rs 250 crore in a phased manner in its project at Genome Valley on the outskirts of the city.
An indication towards this was given by Lonza’s chief executive officer, Stefan Borgas, while delivering the keynote address at the Pharma CEOs Conclave held by Pharmexcil here on Friday.
The groundbreaking for the project, involving research and development facility in the first phase, has been planned during Bio Asia 2011, to be held in Hyderabad from February 21, 2011. Land for the project was allotted by the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) in June last year in the second phase of the Biotech Park.
Chief minister, K Rosaiah, who attended the conclave as chief guest, complimented Lonza for its decision to invest in Genome Valley and assured full support to the captains of pharma industry in expanding their businesses.
He also informed that a new cluster called ‘Medtech Valley’ was coming up at Jawaharnagar near Genome Valley for medical devices and equipment manufacturing industries.
