THD HelpDesk, AMRAVATI: Andhra Pradesh Industrial Infrastructure Corporation Ltd (APIIC) has signed a Memorandum of Understanding (MoU) on Wednesday with the Council of Scientific and Industrial Research- Indian Institute of Chemical Technology (CSIR-IICT) to set up a bulk drug pharma park with the Centre’s support.
The park will be set up in an area of around 2,000 acres at Rs 6,940 crores in the East Godavari district of Andhra Pradesh.
This project will be headed by the Ministry of Chemicals and Fertilizers, Department of Pharmaceuticals, Government of India.
Industries minister Mekapati Gautham Reddy attended the MoU signing session through a virtual medium from Nellore and senior officers from both sides exchanged documents at the APIIC headquarters situated at Mangalagiri.
Mekapati commented after the session,
“CSIR has been established to carry out research in chemical sciences leading to innovative processes for a variety of products necessary for human welfare such as food, health, energy and environment and the conduct of R&D work. Partnering with such an institute will surely help the state get big-ticket investments in the sector as CSIR is fully geared to meet the requirements of technology development, transfer and commercialization.”
Special chief secretary (industries) Karikal Valaven said that this project will place Andhra Pradesh on top of the bulk drug market in the country.