The Telangana government will develop a pharma city on 11,000 acres at Muchurla in Ranga Reddy district near Hyderabad.
Chief Minister K. Chandrasekhara Rao Wednesday announced that local pharma companies have come forward to invest Rs.30,000 crore to set up their units. The project is expected to provide direct and indirect employment to 70,000 people.
The chief minister along with representatives of some pharma companies and senior officials made an aerial survey of the area to identify the land.
Hyderabad Pharma City, as the project will be known, will also have a pharma university and a research centre.
KCR, as the chief minister is popularly known, said a world-class and eco-friendly pharma city would be developed. It will come up with zero liquid discharge facility.
The pharma city will also have a township for the employees of the pharma units, said a statement from the Chief Minister's Office.
The representatives from pharma companies include B. Parthasaradhi Reddy of Hetero Drugs, K. Satish Reddy of Dr Reddy's Laboratories and K. Nityananda Reddy of Aurobindo Pharma.
The pharma city was one of the major initiatives in the newly created state's first industrial policy announced last week.
