HYDERABAD: The state has bagged a big ticket pharma investment worth Rs 500 crores as Switzerland-based Ferring Pharmaceuticals will begin operations here. Ferring is engaged in formulations.
Earlier, the state gave permissions to around 39 companies in two weeks as part of the new industrial policy, TS-iPASS.
“The representatives of Ferring Pharmaceuticals visited the 12-acre land parcel allotted to them in Genome Valley before giving their nod. It will take two months for Ferring to get the other permissions,” sources said.
Another pharma major too is in touch with the Industries Department. “We will reveal the name of the second pharma company only after an agreement is signed. Otherwise, some other state may resort to poaching,” officials confided.
“Several industrialists in textiles, solar, life sciences, plastics and pharma are making serious enquiries. We will reveal the names of the firms only after confirmation,” sources added.
The mobile manufacturer Micromax has started its construction activity in the city. Officials of Industries Department are in touch with other mobile companies as well.
Sources said that another mobile company is also likely to invest in Hyderabad. The Industries Department is now in the process of inviting industrialists who made serious queries. “The industrialists enquired with those who got permissions in two weeks and are serious in investing in the state. All this happened due to word-of-mouth publicity,” sources said.
The State government recently announced a single window industrial policy, which works in a transparent manner without giving scope for corruption or red-tapism. The government has already allocated 10 per cent water in major projects for industries and a land bank of 1.5 lakh acres has been created for industrial needs.
TS industrial policy spread by word-of-mouth
State is getting serious queries about investments
Switzerland’s Ferring Pharmaceuticals confirmed investment of Rs 500 crore
Textile, pharma, plastics, solar, mobile, life sciences companies looking to TS for investment