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Bengaluru:Biocon’s Rs 1,060 cr pharmaceutical unit gets green signal

  •   Wed, May 25 2016 10:02:27 PM

From Our Special Correspondent

Daijiworld Media Network

Bengaluru, May 25: Biotechnology major Biocon Limited’s Rs 1060 crore investment proposal for setting up a pharmaceutical plant on the outskirts of the city received Karnataka Government’s clearance on Wednesday.

The proposed plant of the Biotechnology major would manufacture injectables, monoclonal and anti-bodies vaccines.

A meeting of the State High Level Clearance Committee (SHLCC) chaired by Karnataka Chief Minister Siddaramaiah cleared the proposal, which is expected to create 700 jobs in the plant.

The Rs 1,060 crore pharmaceutical plant would come up at Jigani in Anekal Taluk.

Biocon Limited, publicly listed in 2004, is country’s largest and fully-integrated, innovation-led biopharmaceutical company.

Biocon headed by KiranMazumadar Shaw is committed to reduce therapy costs of chronic diseases like autoimmune, diabetes and cancer.

The Bengaluru-based biotech company has reported a net profit of Rs 896 crore for the 2016 financial year, a rise of 80 per cent against Rs 497 crore in the previous financial year (2014-15).

The SHLCC meeting also cleared total investment proposals of Rs 2,211 crore, which are expected to provide a total employment to 8820 people.

The committee approved Pepsico India Holdings Private Ltd’s Rs 590 crore investment proposal for setting up a beverages and snacks manufacturing unit at Adakanahalli, Nanjangud taluk of Mysuru district.

The proposed plant would provide jobs to 900 persons, according to a statement issued by the State Government.

The SHLCC cleared expansion project of Manyata Promoters Pvt Ltd with an investment of Rs 561 crore.

The promoters of Manyatawould set up an Information Technology Park and allied infrastructure such as hotel, convention centre, retail and commercial space at Nagavara, Rachenahalli and Tannisandra villages of Bengaluru.

The Karnataka Industrial Area Development Board has granted lands to Manyata Promoters Pvt Ltd in three villages.

Industries Minister R V Deshpande, Chief Secretary AravindJadhav and Commerce and Industries Department Additional Chief Secretary Ratna Prabha attended the meeting.
  

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Comment on this article

  • Vincent Rodrigues, Frazer Town,B'lore

    Fri, May 27 2016

    GOOD PROVIDED THEY START THE PROJECT AWAY FROM bANGALORE

    DisAgree Agree [1] Reply Report Abuse

  • Shekar Moily Padebettu, Udupi/India

    Thu, May 26 2016

    Well said Dr.Sharadh Shetty, Mangalore/Malaysia and Rao, Udupi and I do agree with your points. But Problem here is Bangalore politicians don't allow these projects to go outside Bangalore under whatever the consequences may be besides being they don’t want to see the coastal region to develop/flourish.
    If they do so, they lose their identity and importance. At the same time coastal region elected representatives, MLAs, MPs are also not interested on the development of coastal regions due to some vested interests and ego. They are only focusing on inauguration, ribbon cutting and political blame game etc. They won’t fight for our rights.
    Besides they are more interested in protecting/saving their own chairs rather than developing our own coastal regions and welfare of the people. We the Mangaloreans I mean the people of coastal region are highly educated and intellectuals. We got ample, enough potential, natural resources, technical knowhow etc, God has blessed us abundantly.
    But we lack is good administration and proper planning. Corruption is rampant in all the government departments, machineries.Without paying something under the table, we will not get our works done. That is the trend prevailing here in coastal region.All the political leaders, bureaucrats are busy engaged in collecting their share of commission/bribes.
    I request either Dr.Sharadh Shetty or Mr.Rao to visit Mangalore once to study the infrastructure, traffic system, waste disposal system, drainage, drinking water system, power supply problem etc, you will come to know what exactly the condition of Mangalore/coastal region.
    When all these dirty things are playing havoc and how one can come forward and invest here in coastal region. They are inclined to invest here. Unless these basic things are rectified/streamlined, we cannot see any developments in the coastal region in the near future.
    What I suggest is all the political leaders, elected representatives, MLAs, MPS should keep their political differences, blame game and egos and focus and work unitedly with the co-operation of the public for the development of the region. If they do so, there is no doubt and definitely we can create a history and make wonders in our place.We can be a role model for others.
    If we do so, definitely we will get a smart city tag in the next coming list. Otherwise smart city tag will be a dream for all of us.”Where there is a will, definitely there will be way”. This is hundred per cent proved.


    DisAgree Agree Reply Report Abuse

  • D.Shetty, Mangalore

    Thu, May 26 2016

    Finally retirement benefit to all top siddu team got green signal..

    DisAgree [3] Agree [1] Reply Report Abuse

  • mann, bengaluru

    Thu, May 26 2016

    BJPians only think how to make retirement plans instead of progress of the State like our able CM does.
    Karnataka has done well in the last three years in spite of luke warm support from Center. Funds do not get released in time or by delayed installments as they are not of same Political party.
    BJP is very jealous of other Political parties doing well in their respective States....
    Please praise Karnataka's efforts to provide employment to locals as well from other States where BJP is ruling.
    @ D. Shetty

    DisAgree Agree [1] Reply Report Abuse

  • Jossey Saldanha, Mumbai

    Thu, May 26 2016

    This is the PROOF ...

    DisAgree [1] Agree [8] Reply Report Abuse

  • Dr.Sharadh shetty, Mangaluru/malaysia

    Thu, May 26 2016

    I don't know why the Government dumps every new plants and factories in and around Bengaluru. Already Bengaluru is becoming garbage city. At least our coastal leaders would've persuaded the higher officials to have this plant in coastal region.

    DisAgree [7] Agree [5] Reply Report Abuse

  • Rao, Udupi

    Thu, May 26 2016

    Agreed. Instead of clogging all industries in and around Bengaluru better to scatter it throughout Karnataka. By this, in other areas infrastructure can also be developed and the whole state grows. Coastal districts politicians and other experts should develop a comprehensive plan and try to attract these type of industries with minimal damage to nature. Otherwise cities like Bengaluru will breed lot of issues/problems related to clogging of industries. Also locals of coastal districts can get employment in their native instead of shifting to cities. These days we can see lot of homes in coastal districts where only elderly stay as their children are working far away. This is the time we have to think and act so as to develop our districts as a self sustained one.

    DisAgree Agree [2] Reply Report Abuse


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