Pharma city phase-I by 2018-end

HYDERABAD: The State Government has resolved to operationalise the first phase of the Pharma City project coming up at Mucherla in Ranga Reddy district before the end of 2018.
Industries Minister K.T. Rama Rao said the draft master plan for the prestigious project, expected to see investments to the tune of ₹ 75,000 crore and create one lakh direct and two lakh indirect jobs, was under preparation even as the Government embarked upon acquiring land for the project. An extent of 5,646 acres was already under the possession of the



Telangana State Industrial Infrastructure Corporation.
The Government had sought a loan of ₹ 750 crore from the HUDCO for acquiring land for Pharma City of which ₹ 350 crore had already been released. The Government had so far paid ₹ 231.21 crore towards land acquisition costs. Another ₹ 3,100 crore loan was sought from the Asian Infrastructure Bank and the Government was hopeful of receiving the assistance soon, the Minister said in reply to a query during the Question Hour in the Legislative Assembly on Monday.