Hetero, Aurobindo plan units in Hyderabad

FROM THE PHARMA FRONT: THIS PILL IS NOT BITTER

Hetero Drugs and Aurobindo Pharma will be the anchor clients at the formulation special economic zone (SEZ) being planned in the Green Industrial Park at Jedcherla near Hyderabad.

B Pardhasaradhi Reddy, chairman of Hetero Drugs said, "We will be signing the memorandum of understanding (MoU) with Andhra Pradesh Industrial Infrastructure Corporation (APIIC) Ltd shortly." Both the companies will be investing about Rs 200 crore initially in developing 240 acres of land. SEZ approval will take about six months after which the development is likely to take a year's time.

An area of 960 acres of land has been acquired at Jedcherla, which is about 70 km from Hyderabad for development of a Green Industrial Park. According to BP Acharya, vice-chairman and managing director of APIIC, the conceptual plan was under way.

"The park will focus on green technologies and a formulation special economic zone has been proposed in about 300 acres of land. The focus is on attracting industries from non-renewable energy sectors and industries adopting cleaner production methods," he added.

Meanwhile, the Andhra Pradesh Industrial Infrastructure Corporation has also created an annual fund of Rs 50 crore to take up studies and ascertain remedial action for environment management. It has entered into an MoU with GTZ, a Germany-based enterprise for development of environment management plan.

This apart, development of Phase III in Medak district for the development of Biotech Park has also been taken up in about 400 acres. Acharya said that the formal approval for the Biotech SEZ is likely in October.