|
TN govt issues order to establish hi-tech pharma park at a cost of Rs. 155 crore on 113 acres of land at Tindivanam
|
|
Peethaambaran Kunnathoor, Chennai
July 26 , 2022
|
|
|
Finally, the long wait for an official order from the Tamil Nadu government for the mega pharmaceutical park project at Tindivanam in Viluppuram district has come out from the office of the MSME, which gives music to the ears of the drug manufacturers in the state.
The secretary of the department of Micro, Small and Medium Enterprises, V Arun Roy issued the government order two days ago after the government approved the proposal and request submitted by the Tamil Nadu Small Industries Development Corporation (TANSIDCO) Ltd for establishment of the pharma cluster/park at a cost of Rs. 155 crore on 113 acres of land at Tindivanam.
TANSIDCO will work out on the project in association with the Tamil Nadu branch of the Indian Drug Manufacturers Association (TN IDMA).
As a first time installment of the financial support, the state government sanctioned Rs. 20 crore and 63 lakhs to start the project work. For additional support, government will avail loan assistance from SIDBI under the SIDBI Cluster Development Fund (SCDF) to meet the government share which comes around Rs. 52 crore.
The government hopes that the park project will enable the industry to provide job opportunities for 10,000 people in addition to opening up huge investment opportunities. The order has now come following the announcement in the assembly by the minister for finance and human resources management on August 13 last year that a mega pharma park would be set up in Tindivanam along with four other various industrial parks. Since then TN IDMA has been taking steps with the government to expedite the project.
According to the order, the land cost for the 113 acres will be borne by the Special Purpose Vehicle (SPV) formed for the operation and maintenance of the project. It will be in the form of a company which will be incorporated under section 8 of the Companies Act 2013. The SPV will consist of the plot allottees, the pharma MSME units. They are the investors on the project or the stakeholders. The SPV will have full operational autonomy to develop, operate and maintain the infrastructure.
TANSIDCO will develop the plots to meet the requirements of the pharma units in addition to the creation of the common facilities. Total number of plots earmarked in the cluster is 42. It is estimated that the exclusive formulation park will be established at a cost of Rs. 155.01 crore and it will have facilities such as common quality control testing centre, common effluent treatment plant with zero liquid discharge, common water treatment plant, common sewage treatment plant, common warehouse for packing materials, common board meeting rooms, skill development and training centers, food court, service apartment for staff members and provision for fuel gas piping system. On completion of the project, the common facilities will be handed over to the SPV.
Supporting the pharma project, the government of India has agreed to provide Rs. 20 crore which will be exclusively utilized for the development of a common effluent treatment plant. The state government’s share is Rs. 51 crore and 63 lakhs. The full cost for purchasing the 113 acres of land will be borne by the SPV. It will have to bear 30% of all other expenses in the project components. In total, the SPV has to contribute Rs. 83.44 crore towards the project.
Commenting on the park project, the TN IDMA chairman, J Jayaseelan said the Tindivanam pharma park would be a new-age hi-tech manufacturing hub for pharma formulations. Formulation units in Tamil Nadu, Pondicherry and Karnataka can invest in the project.
|
|
|
|
|
|
|
|
TOPICS
|
That foods might provide therapeutic benefits is clearly not a new concept. ...
|
|
|
|
|