Genome Valley Phase-II In 300 Acres Soon: CM

Telangana Chief Minister Revanth Reddy today announced that the State government would establish a second phase of the Hyderabad Genome Valley soon.

The CM was speaking after inaugurating the healthcare and life sciences conference BioAsia's 2024 edition at Hitex. On the occasion, he congratulated Nobel Laureate Professor Greg L Semenza for being selected for the Genome Valley Excellence Award this year.

Addressing the conference, Reddy said, "The Genome Valley will be established in three hundred acres with an investment of Rs 2,000 crore. The process of setting up ten pharma villages with an investment of Rs 1 lakh crore has already begun. The pharma villages will be established in greenfield pharma sectors in Vikarabad, Medak and Nalgonda districts. This will open up enormous opportunities for aspiring entrepreneurs. The new facility will provide 5 lakh jobs. The greenfield facility will also be very convenient for all the entrepreneurs of the world as it is located very close to the Hyderabad international airport."

He also said that the BioAsia conference had become crucial amid rising health concerns around the world after the Covid pandemic.

The CM added that Hyderabad as the capital of bioscience had created a confidence in all of mankind today, and that one of every three vaccines used in the world was being produced in Hyderabad. He said that his government was committed to developing Hyderabad, which was already an IT and biosciences capital. Many international and domestic organisations had consolidated their presences here without any hurdles, he claimed.

"My government is also giving top priority to the MSME sector which creates a bridge between small start-ups and big corporates," Reddy said.

The CM also said that Telangana had already received huge investments of Rs 40,232 crore in the recently held World Economic Forum at Davos, and that his government was ready to fulfill the dreams of investors and entrepreneurs.

He also welcomed Takeda entering into an agreement with Biological E to produce 5 crore doses of vaccines annually.

"We are creating confidence in the world that Hyderabad is ready to produce vaccines," Reddy said.

Minister for IT and Industries Sridhar Babu was also present in the program.