The MSME units received incentives through the “IDP 2020-23 Policy”.
Six entrepreneurs proposing vaccine, bulk drug manufacturing and middlemen have shown interest in setting up units at the Orvakal Mega Industrial Hub to establish a pharmaceutical industry in the Kurnool district, suggesting an investment of 272.19 billion yen on 77 hectares.
At a virtual meeting of the owners of pharmaceutical companies on Wednesday evening, the industrial director and vice chairman and managing director APIIC JVN Subrahmanyam said the industrial center is a “golden mine” for entrepreneurs and the first hub in the Hyderabad-Bengaluru industrial corridor.
He informed entrepreneurs that the master plan for the mega-industrial center Orvakal with the extraction of water from Muchumarri (Krishna backwaters) had been completed. The government committed itself to environmental protection in the industrial parks by setting up joint wastewater treatment plants (CETP).
The MSME units are funded by the ‘IDP 2020-23 Policy’, he said, the basic infrastructure facilities like resource consumption requirements that were put before the APIIC are mainly electricity, water, sewage treatment and bio-waste disposal facilities. The duration of the projects is between one and three years, he added.
The total area of the Orvakal Mega Industrial Hub is approximately 10,000 acres, of which 8,000 acres are owned by APIIC and the remaining 2,000 acres were in the land acquisition process.