HYDERABAD: US-based Cambridge Isotope Laboratories (CIL) and Hyderabad-based Chemtatva Chiral Solutions have decided to establish an advanced manufacturing facility in the state. The two companies will jointly invest Rs 300 crore over the next three years, according to IT & Industries Minister D Sridhar Babu.
The project, to be set up in Genome Valley Phase-4 in Hyderabad, is expected to generate around 250 jobs, he said. The minister was speaking at a meeting he had with the CEOs of the two companies at the Secretariat on Sunday.
Sridhar Babu said that the state continues to attract global investments in high-value sectors.“Telangana is emerging as a global hub for life sciences and specialty chemicals. The partnership between Cambridge Isotope Laboratories and Chemtatva reflects the strong confidence that international companies have in the state. This investment will further strengthen Telangana’s capabilities in advanced chemistry and materials science,” he said.
The minister added that the proposed state-of-the-art facility will manufacture isotope-labelled compounds, which are currently largely imported into India. Once operational, the project will help reduce the country’s dependence on imports, he said.
These compounds are widely used in pharmaceutical research, metabolic studies, diagnostic testing, advanced electronics, organic electrolumi nescent materials and the semiconductor sector, he noted.
The minister said the companies chose Genome Valley for the project due to the state’s industry-friendly ecosystem, availability of highly skilled scientists, world-class infrastructure, and progressive government policies.