APIIC Enters MoU with CSI IICT to Develop Bulk Drug Park in AP
Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC) entered into a Memorandum of Understanding with CSIR-IICT in the presence of Mekapati Goutham Reddy, Minister for Industries, on Wednesday, in which he participated virtually from Nellore district
Amaravati: Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC) entered into a Memorandum of Understanding with CSIR-IICT in the presence of Mekapati Goutham Reddy, Minister for Industries, on Wednesday, in which he participated virtually from Nellore district.
On this occasion, the Minister informed that the objective of MOU is to develop a collaborative partnership between State government and CSIR-IICT in establishing Bulk Drug Park (BDP) by seeking financial support from Government of India. The CSIR-IICT will provide necessary technical support as the knowledge partner in preparing the proposal to be submitted by the State government to the government of India.
It may be noted that the Government of India has recently launched a scheme on promotion of BDPs for financing common infrastructure facilities in 3 parks with a financial implication of Rs 3,000 Cr for next five years. Taking advantage of it, the State government is establishing one out of the three BDPs in Andhra Pradesh. The government has to develop the park on an extent of at least 2000 acrs of land. In this park, the incentives will be given to the eligible manufacturers of identified 53 critical bulk drugs on their incremental sales for next 6 years. Out of 53 identified bulk drugs, 26 are fermentation based bulk drugs and 27 are chemical synthesis based bulk drugs.
Goutham Reddy stated that the AP is home to many global and national pharma players and various companies have set up their manufacturing hubs in different cities of the State. The Jawaharlal Nehru Pharma City (JNPC) developed at Parawada near Visakhapatnam in 2,400 acrs, of which 611 acrs fall under the ambit of Special Economic Zone (SEZ) has attracted major investments.
AP is the third largest State and 16 percent share in terms of pharma output. The total output from the pharma industry in the State is estimated as 5 Billion US Dollars and the exports are estimated as 1 Billion US Dollars per annum.