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Phase III of SP Biotech Park launched

Wednesday, 10 May 2006
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Andhra Pradesh Chief Minister, Dr YS Rajasekhara Reddy, on 9 May 2006, laid the foundation stone for Phase III of Biotech Park at Karakapatla in Medak district. This project would come up on 414 acres of land.

Phases I and II of the Shapoorji Pallonji Biotech Park spread over 400 acres have been completed and 23 biotech companies have commenced operations.

In a related development, Andhra Pradesh Industrial Development Corporation Venture Capital Ltd has launched Biotech focused Venture Capital Fund with a seed capital of Rs.10 crore, to promote entrepreneurship in bio-technology.

Meanwhile, the Andhra Pradesh state government feels that the state is a strong contender for the Bio-IT Park proposed by Software Technology Parks of India. The state has tied up with Shapoorji Pallonji for locating the proposed Bio-IT Park within the SP Biotech Park.

Note: The SP Biotech Park was launched in December 2001 and is jointly promoted by the Andhra Pradesh government and the Shapoorji Pallonji group.

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