A state-of-the-art pharmaceutical park would come up in the Gopalpur Industrial Area in Ganjam district soon.
The State Implementing Agency (SIA) would set up the part at a cost of Rs 1,530 crore, which would provide common infrastructure facilities for the private players for setting up pharmaceutical units.
While the Union Government grants Rs 1,000 crore for such a park, the State Government, being the proposer, will invest the rest amount in the Special Purpose Vehicle (SPV).
Official sources said that Industries Department through the Idco would promote the pharmaceutical park with 51% share in the SIA. It would be jointly promoted by the Tata Steel SEZ.
A 1,000-acre patch of land has been identified in the SEZ at Gopalpur.
The park would house common facilities such as incubation centre, logistic facilities, common testing centre and other ancillary provisions to support development of a bulk drug. The park would be set up in 24 months from the date of the final approval of the Union Government.
The proposal would be sent to Department of Pharmaceuticals before September 25, 2020 for approval.
While the entire nation is going through health emergency situation due to Covid pandemic, the proposed park will strengthen the health sector infrastructure in the State.