Orissa, which is located on India’s east coast, has selected Bharat Biotech International (BBIL) as its partner in the venture to create a hub for pharmaceutical and biotechnology companies.
The venture is the first of its kind in Orissa, which is attempting to establish the infrastructure needed to benefit from India’s growing pharmaceutical and biotech sectors.
Dr Krishna Ella, chairman and managing director of BBIL, said: “We are delighted that the Government of Orissa has acknowledged our competence and awarded this prestigious project to BBIL.
“Our task is to focus on rapid development of this park by developing core infrastructure and technology to enable establishment of new companies whereby new local entrepreneurs in the biotechnology field will be created.”
BBIL specialises in the R&D and manufacture of vaccines and biotherapeutics but also has experience in the development and commercialisation of technology parks in India.
The company is to develop the 55 acre site that has been allocated by Orissa’s government, with completion of the project expected to take 8 years.
A ten acre section of the site has been earmarked for the Biotechnology Incubation Centre, which will be used by researchers, entrepreneurs and students. Funding for the Centre has been received from the Department of Biotechnology, Government of India.
PPP in India
Indian state governments have been keen to encourage pharmaceutical and biotech companies to establish in their region, with various PPP and incentives initiated to achieve this.
The state if Himachal Pradesh implemented a five year ‘tax holiday’ for pharmaceutical units set up in the state, while the Gujarat’s PPP website lists 295 large scale projects that are underway, with a total investment of $533m.
These governmental investments in initiatives and infrastructure have assisted India’s rise to prominence in the global pharmaceutical market.