Next phase of Genome Valley to be set up in 300 acres at Rs.2,000 cr, says Revanth Reddy at BioAsia 2024

HYDERABAD: Chief Minister A Revanth Reddy announced that the State Government would establish the next phase of Genome Valley near Hyderabad at a cost of Rs 2,000 crore in 300 acres.

He made this announcement after inaugurating the Healthcare, Life Sciences Bio Asia 2024 at the Hyderabad International Convention Centre (HICC) on Tuesday.

The Chief Minister disclosed that the next phase of Genome Valley would be developed on 300 acres of land with an investment of Rs 2,000 crore. He stated that the State Government was establishing 10 pharma villages with a whopping investment of Rs 1 lakh crore. These pharma villages were aimed to develop infrastructure, generate new jobs, and create opportunities for entrepreneurs, with an anticipated creation of about 5 lakh new jobs.

In the first phase, three pharma villages will be established at Vikarabad, Medak, and Nalgonda, conveniently located just one or one-and-a-half hours' drive from the international airport.

Stating that during the post-Covid era, the world was focused on life, health, and disease, the Chief Minister remarked that the Bio Asia conference was being conducted in an atmosphere of fear and hope. "While a pandemic is a cause for concern, Hyderabad, being the capital of life sciences, represents hope," he said, adding that one in three vaccines worldwide is manufactured in Hyderabad.

Revanth Reddy affirmed that his government's commitment to creating a perfect ecosystem, implementing conducive policies, building robust infrastructure, and providing unwavering support to domestic, international, and start-up ventures. He underscored the government's focus on driving the growth of MSMEs, assuring, "If your dream is to reach the sky, we will ensure a rocket to take you there."

The Chief Minister also congratulated Nobel Laureate Professor Greg L. Semenza for being selected for this year's Genome Valley Excellence Award.

IT and Industries Minister Duddilla Sridhar Babu and other dignitaries also addressed the inaugural program of the BioAsia-2024 conference.