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Andhra Pradesh to invest 
2 billion on animal resource centre
Monday, 03 February 2003, 20:30 IST
HYDERABAD: The Andhra Pradesh government Friday said it would set up an animal resource facility for biomedical research with an investment of 
2 billion.
The National Animal Resource Facility for Biomedical Research, to be set up at the state-of-the-art Biotech Park here, will meet the growing needs of biotech and pharmaceutical industries across the country for laboratory animals.
The Andhra Pradesh government has tied up with Indian Council for Medical Research (ICMR) to set up the facility that will be spread over an area of 100 acres, said Andhra Pradesh Chief Minister N. Chandrababu Naidu.
An institute of excellence in life sciences will also be set up to help the state become a knowledge hub, Naidu said at the inaugural session of Biotech Invest-2003, a three-day meet on business opportunities in biotechnology industry.
Over 25 companies from countries such as the U.S, Britain, Germany and Australia are attending the Biotech Invest-2003, jointly organised by the All India Biotech Association and the Federation of Andhra Pradesh chambers of Commerce and Industry.
"We already had a meeting with director general of Indian Council for Scientific Research on the proposed institute and another meeting will be held in February to finalise the proposal," he added.
Naidu said a biotech incubator facility is also being set up in Biotech Park with an investment of 300 million.
The state government has tied up with federal government's department of biotechnology and Hyderabad-based Indian Institute of Chemical Technology (IICT) for the project.
The chief minister said International Finance Corporation (IFC), the private sector lending arm of the World Bank, is likely to invest 1 billion in the state government's Biotech Venture Capital Fund.
The Andhra Pradesh government set up the fund last year with an initial corpus of 1 billion to facilitate funding for the biotech start-ups.
Rolling out a red carpet for biotech companies, Naidu said the state government would extend full support to them.
"If the last decade was the decade of information technology, this decade belongs to biotechnology," he said, adding the state has put in place world-class infrastructure.
Source: IANS
2 billion.
The National Animal Resource Facility for Biomedical Research, to be set up at the state-of-the-art Biotech Park here, will meet the growing needs of biotech and pharmaceutical industries across the country for laboratory animals.
The Andhra Pradesh government has tied up with Indian Council for Medical Research (ICMR) to set up the facility that will be spread over an area of 100 acres, said Andhra Pradesh Chief Minister N. Chandrababu Naidu.
An institute of excellence in life sciences will also be set up to help the state become a knowledge hub, Naidu said at the inaugural session of Biotech Invest-2003, a three-day meet on business opportunities in biotechnology industry.
Over 25 companies from countries such as the U.S, Britain, Germany and Australia are attending the Biotech Invest-2003, jointly organised by the All India Biotech Association and the Federation of Andhra Pradesh chambers of Commerce and Industry.
"We already had a meeting with director general of Indian Council for Scientific Research on the proposed institute and another meeting will be held in February to finalise the proposal," he added.
Naidu said a biotech incubator facility is also being set up in Biotech Park with an investment of 300 million.
The state government has tied up with federal government's department of biotechnology and Hyderabad-based Indian Institute of Chemical Technology (IICT) for the project.
The chief minister said International Finance Corporation (IFC), the private sector lending arm of the World Bank, is likely to invest 1 billion in the state government's Biotech Venture Capital Fund.
The Andhra Pradesh government set up the fund last year with an initial corpus of 1 billion to facilitate funding for the biotech start-ups.
Rolling out a red carpet for biotech companies, Naidu said the state government would extend full support to them.
"If the last decade was the decade of information technology, this decade belongs to biotechnology," he said, adding the state has put in place world-class infrastructure.
Source: IANS