Odisha to Set Up a Bulk Drug Park in Gopalpur
The Odisha government has given its official nod towards the construction of a bulk drug park in Tata Steel Special Economic Zone (SEZ) at Gopalpur, sources reveal. The proposal for the same was discussed at a high-level meeting chaired by Chief Secretary Asit Tripathy on Friday. In line with its vision to capitalise on the non-mineral sector in the state, the proposal also seeks to boost employment opportunities through appropriate industrialisation.
A feasibility report, containing the technical and financial details for the plan to establish the facility, was presented by Industries Secretary Hemant Sharma before the review committee. “The proposal for setting up the park in Tata SEZ at Gopalpur received in-principle approval in the meeting,” Sharma said. He added that the location of the drug park was well connected to the port and railway facilities.
Exploring the potentialities of setting up the drug park, Chief Secretary Asit Tripathy also said that the State Implementing Agency (SIA) would set up a Special Purpose Vehicle (SPV) to finalise the detailed proposal within a fortnight. “The SPV will be formed involving IDCO as the lead promoter and TSSZEL (Tata Group) and co-promoter to carry forward the project proposal”, a statement from his office read.
The establishment of the bulk drug park heeds the call of the Centre’s ambitious ‘Aatmanirbhar Bharat’ campaign. Despite being the third-largest by volume, the Indian pharmaceutical industry still lags due to foreign dependence on basic raw materials. The Union Ministry of Chemicals and Fertilisers would sponsor up to 70% of the project cost, or Rs. 1000 crores, whichever is lower. The Central scheme envisages three such facilities across India. The proposed park in Gopalpur is a part of that scheme.