Bharat Biotech International Ltd, a Hyderabad-based manufacturer of vaccines and biotherapeutics, has been selected by the Orissa government to set up the state’s first public-private-partnership biotech pharma IT project.
The park, to be located at Mouza-Andharua near Bhubaneswar, is estimated to cost about Rs 100 crore and is slated to be completed in eight years.
The Orissa government has allocated 54.86 acres to Bharat Biotech towards the development of the integrated industrial park to attract and promote pharmaceutical, biotechnology and IT industries in the state.
Bharat Biotech will form an to develop the proposed park. The SPV will execute the lease-cum-development agreement of Bharat Biotech with the Orissa Industrial Infrastructure Development Corporation (Idco).
The state government and Idco have agreed to provide all external infrastructure facilities such as road connectivity, water and power supply with a 33 KVA sub-station to facilitate rapid development of internal infrastructure, the company stated in a release on Wednesday.
Within the proposed park, another 10 acre will be developed to house a biotechnology incubation centre for use by researchers, entrepreneurs and students.