India’s exclusive special economic zone dedicated to the pharmaceuticals industry on the outskirts of Ahmedabad, Pharmez, is getting bigger. Zydus Infrastructure is planning to pump in another Rs 100 crore to develop the basic infrastructure on 64.48 hectares that has already been approved by the Gujarat government.
“We have applied to the government for final notification on expansion of Pharmez and started leasing out land for commercial use. It is expected to come in a month’s time and we hope to see it running by the middle of 2012,” said Kailash Bahuguna, chief operating officer of Zydus Infrastructure. The company, which has been set up as a subsidiary of Zydus Group in 2006, is overseeing the development of Pharmez.
Post expansion, the total size of Pharmez will be 113.3 hectares, including 48.83 hectares that has been developed in the first phase with an investment of Rs 80 crore.
According to Bahuguna, Zydus Infrastructure is expecting about 20 pharma companies setting up operations in this
SEZ under the second phase.
“While the focus will continue to be on formulations and research and development, the operating cost is 17 to 19 per cent less because of tax benefits. Further, because of its proximity to ports, this SEZ is drawing attention of all major pharmaceutical companies in India,” he said.
In the first phase,12 companies have received allotment letters. Production has started at Zydus Hospira Oncology, Famy Care and Intas Pharma. Even service providers such as Fisher Scientific India, Oxygen Bio Research and Piramal Pharmaceuticals Development Ser-vices have started operating in the SEZ. Construction of Cadila Healthcare has just started while validation is on at Zydus BSV Pharma and Zydus Technologies.
However, facilities of Torrent Pharmaceuticals, Biomedical Life Sciences and Amneal Life Sciences is yet to come up. This has resulted in total investment of Rs 1,697.11 crore in the SEZ since 2006.
Source : mydigitalfc.com