The foundation stone of Genome Valley, a biotechnology park promoted by Shapoorji Pallonji Biotech Park, will be laid on December 10 at Turkapalli in Hyderabad.
The park will have private sector as well as public sector participation.
According to B Gopala Krishna Reddy, state minister in charge of small scale industry, information technology services and biotechnology, the first phase of the park in 150 acre, which would see an investment of over Rs 100 crore, would be operational in 18 months. The park will be spread over 400 acre.
"Biotechnology company Bharat Biotech has already set up shop at the park and companies such as Maanya Biotech, Micro Biomed, Biological E, Shriram Biotech, Vega Medicare and Genepro are setting up facilities at Genome Valley," said Zafar Iqbal, director, Shapoorji Pallonji Biotech Park.
The total investment in the park, which can accommodate 50 companies, has been pegged at Rs 2,200-2,500 crore.
Andhra Pradesh governor C Rangarajan will lay the foundation stone of the park, while state chief minister N Chandrababu Naidu will preside over the function. The function will be also attended by union ministers Murli Manohar Joshi and Bandaru Dattatreya.
