Tuesday, February 27, 2024

KTR breaks ground for BSV’s pharmaceutical plant in Hyderabad

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Telangana IT minister KT Rama Rao broke ground for Bharat Serums Vaccine’s new bio-pharmaceutical manufacturing facility in Genome Valley on Thursday, September 21.

Bharat Serums and Vaccines Limited (BSV) has dedicated over five decades to the mission of protecting, and enhancing the quality of life through the development of biological, biotech, and pharmaceutical products.

The proposed plant with an investment of Rs 200 crore will cater to domestic and export markets including regulated markets like the USA and the EU.

Extending a warm welcome to BSV which is an esteemed name in the pharmaceutical world, KTR said, “Happy to welcome BSV Global to Hyderabad, the ‘Vaccine Capital of the World’.”

Speaking at the event, the minister said that the addition to Telangana Life Sciences further reinforces our strength in injectables or biological manufacturing as the state makes systematic progress towards promoting complex manufacturing at scale to achieve a 250 billion life sciences ecosystem by 2030.

“This endeavour by BSV not only contributes to the economic growth of our State but also highlights our commitment to creating meaningful employment opportunities for our people,” said KTR.

KT Rama Rao further said that no state could match Telangana in terms of conducive policies or facilities being extended for rapid industrialisation and employment generation.

“We have to infuse confidence among the company management and offer incentives. All this is being done to generate employment opportunities and to spur economic activity,” said the minister.

“All these measures will lead to generating increased revenue for the state government, which in turn will implement different welfare programmes,” added KTR.

 

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