'Land will be allotted at reasonable rates'

The Andhra Pradesh government will allot land at the proposed Rs 276-crore 'Pharma City' in Visakhapatnam at reasonable rates to the pharmaceutical companies, chief minister Y S Rajasekhara Reddy said on the occasion of laying the foundation stone for the Pharma City.

The Andhra Pradesh Industrial Infrastructure Corporation (AFIIC) has contributed around 2,300 acres of land for the development of Pharma City as its equity and the Ramky group, the developers of this project, is set to invest around Rs 182 crore to provide infrastructure facilities like a common effluent treatment plant, hazardous waste management, roads, electricity and other facilities.

"There is an apprehension among the drug manufacturers that the Pharma City developers may ask high prices to allot sites. But I am requesting the developers to take all possible steps to reduce prices as much as possible, apart from suggesting to them that they complete the development work in one year instead of the proposed two years," the chief minister said.