Biocon Subsidiary To Invest Rs 788Cr For Hyderabad Facility Expansion
Biocon subsidiary, Syngene, is expanding their facility with Rs 788 crore, located in special economic zone (SEZ) Genome Valley of Hyderabad.
According to media reports, the expansion plan comprises the construction of 16.5 lakh sq ft of cutting-edge research laboratories spread over 17.5 acre and will creates over 1,000 jobs in next five years. The expansion facility will further enhance the company's capabilities in drug discovery and development services.
Telangana IT Minister K T Rama Rao expressed his gratitude to Kiran Mazumdar-Shaw, founder of Biocon and Syngene, for their company expansion plan in Hyderabad. He highlighted how the city has become a "centre for innovation", with over 1,000 innovators from across the globe leveraging vast talent in fields such as chemistry, biology, genetics and technology.
Dr Kiran Mazumdar Shaw praised Rao's visionary leadership, which she said has created a world-class ecosystem for life sciences in Hyderabad. She reiterated her company's commitment to contributing to the growth of the sector in the region and provide employment to more 1,000 people in next five years.
