Telangana to Develop Genome Valley with Rs 2,000 Cr Investment

Hyderabad, Feb 27 (PTI) The Telangana government will be taking up the next phase of 'Genome Valley', the country's first organised cluster for Life Sciences R&D and clean manufacturing activities here involving an investment of Rs 2,000 crore in 300 acres of land, Chief Minister Revanth Reddy said on Tuesday.


Speaking at BioAsia 2024, a healthcare and life sciences annual event, Reddy said the government is also planning to develop ten "Pharma Villages" (clusters) in the state which will have investment potential of Rs one lakh crore.

"I am announcing here to establish the next phase of Genome Valley in 300 acres of land with Rs 2,000 crore of investment," he added.


He further said the Pharma Villages will have the potential to generate five lakh jobs after they are established.


Reddy said the government has also identified clusters for Greenfield Integrated Pharma Villages in Vikarabad, Medak and Nalgonda, all three different areas of Telangana for infrastructure and investment.


According to him, the state government attracted over Rs 40,000 crore investments in the recently held World Economic Forum Summit in Davos, Switzerland.


Telangana Industries Minister D Sridhar Babu said the state government will soon come out with a Lifesciences Policy.

Speaking to reporters on the sidelines of BioAsia, Sridhar Babu said the Congress government decided to scrap the previous BRS regime's proposal for setting up a "Pharma City" in over 15,000 acres near here and instead is planning to set up ten Pharma villages or clusters in different locations of the state.

Out of the ten clusters, three will be taken up initially and the remaining will be taken up depending upon the availability of loans, he said. Each cluster will come up in 1,000 to 2,000 acres of land.

For the second phase of Genome Valley, the land was already acquired, he said, adding RX Propellant and Terminus have come up with Rs 2,000 crore investment to create necessary infrastructure.


"In the next five years , about Rs 20,000-30,000 crore investments will be coming in the second phase of Genome valley," the minister said.


Replying to a query, he said the state government will use the Pharma City land for some other purpose and no decision has been taken on that yet.