Andhra Pradesh Sets Sail To $ 500M Biocity Project
The Chief Minister of Andhra Pradesh is not one to shy away from taking leaps and bounds in development of the state, and as a result, the state is currently the front runner of futuristic projects. The newest conceived idea is the BioCity with an estimated investment of $500 million in Srikakulam district of north coastal AP.
The name proposed for the Biocity Project is Dolphin BioCity.
It will be spread over 5,000 acres and will have centralized facilities to boost life sciences and biotech ventures. The project will involve 6 to 8 clusters with capacity of promoting 400-500 units. It will attract investments of $ 6-8 billion and generate overall employment to the tune of 50,000. The scheme will be a public-private partnership model. Frost & Sullivan who are the global consultants have been roped in for strategic partnership.
The preliminary feasibility reports have been done and 1500-2000 acres of land has been acquired.
A thorough study into the strengths of operations in Andhra Pradesh with relevance to other fields and sectors is being explored.
