According to a statement from Andhra Pradesh Industrial Investment Corporation (APIIC), the US-based life science infrastructure giant would be investing in Genome Valley in a phased manner. The company would create plug and play lab space to cater to the needs of global, as well as local, biotech and pharmaceutical companies. APIIC has allotted 30 acres of land within the Genome Valley SEZ for the international company.
BP Acharya, chairman and managing director of APIIC announced this at the India Evening programme held in Atlanta during the BIO International Conference and subsequently presented the allotment letter to Jeffrey Newton, vice president of Alexandria. Acharya also interacted with Joel Marcus, chairman and chief executive officer of Alexandria and discussed the companys plans for Genome Valley. Meanwhile, chairman of IMAC, MS Reddy announced his plans for a $100 million (approx Rs 500 crore) investment in a Livestock Biotech Park and SEZ, Pulivendula, Andhra Pradesh, focusing on Zionistic diseases such as H1N1(swine) flu and other
life stock areas.