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AP to invest in bio-tech park

Syed Amin Jafri in Hyderabad

The Andhra Pradesh government has set up a high-powered committee of secretaries to accord approvals to proposals and provide statutory clearances for joint ventures coming up in the proposed Bio-Technology Park near Hyderabad.

Briefing newsmen in Hyderabad on Wednesday, Chief Minister Nara Chandrababu Naidu said that the cabinet has approved a proposal for the state government's equity participation in the Bio-Technology Park. The state government would take 20 per cent equity in the project which entails an outlay of Rs 873.50 million.

He said that the state government has allotted 160 acres of land for the Bio-Technology Park, which is coming up adjacent to ICICI Knowledge Park near Shamirpet on the Hyderabad outskirts. He said that the state government has also urged the government of India to come forward with grants for the Bio-Technology Park.

He said that the ventures being located in the Bio-Technology Park would enjoy a seven-year tax holiday, besides other benefits and concessions. He said that the committee of secretaries has been constituted for according quick clearances to joint ventures proposed in the park.

The chief minister also disclosed that a world class school would be set up at Gudipally village in his Kuppam constituency to provide quality education. He said that the school is being promoted by Agastya International Foundation and the government has allotted 170 acres of land for the residential school at Rs 5,000 per acre.

The international school will have a centre of academic excellence, a cultural and philosophical centre and a teacher training centre besides the residential school.

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