With Odisha Government given emphasis to develop Pharmaceutical Sector, a State Of The Art Pharmaceutical Park will come up in Gopalpur Industrial Area.
State Implementing Agency (SIA) will set up the Pharmaceutical Park with a cost of Rs.1530 Crore, which will provide common infrastructure facilities for the private players, who will be interested to set up their facilities.
While the Union Government is granting Rs.1000 Crore for such a Park, the State Government, being the proposer of the Pharmaceutical Park will be investing in the Special Purpose Vehicle (SPV).
Official sources said that Department of Industries through IDCO will promote the Pharmaceutical Park with 51 Percent share in SIA.
It will be jointly promoted with Tata Steel SEZ for development of Pharmaceutical Sector.
1000 Acre of land has been identified at Gopalpur Industrial Area for the Pharmaceutical Park, which will provide platform for Bulk Drug Manufacturers.
The Park will house common facilities such as Incubation Centre, Logistic Facilities, Common Testing Centre, and other ancillary provisions to support development of a bulk drug.
While Odisha is fast emerging as the Manufacturing Hub of the East in India through its Industry Friendly Environment and Policy Framework, Odisha Government has decided to promote the Pharmaceutical Park.
While Government of India will provide 70 Percent Grant In Aid of Rs.1000 Crore for the Pharmaceutical Park to set up Common Infrastructure Facilities, rest will be organized from the SPV, said a senior official.
The Park will be set up in 24 Months from the date of the Final approval of Government of India.
As the details are being finalized, the proposal will be sent to Department of Pharmaceuticals in the Government of India before 25 September for approval.
While the entire nation is going through Health emergency situation due to Novel Corona Virus (COVID-19) Pandemic, such kind of Park will strengthen State’s Infrastructure in Health Sector, officials say.