Kerala government has given nod to two biotechnology companies in the country Bharat Biotech and Virchow Biotech to set up vaccine production units in the state. The companies had expressed their interest to start the production units in Kerala and therefore the government after verifying the capacity and their expertise in vaccine production gave approval.
The state government will have to issue guidelines for their investments. According to reports, the finance ministry is considering the guidelines prepared by the Kerala State Industrial Development Corporation Ltd.
The companies will be allotted plots on the Life Science Park at Thonnakkal in Thiruvananthapuram. However, a decision on the mode of transfer of land and other facilities is yet to be finalised.
What has the government assured?
1. Approval in one month
2. Land for lease for 60 years at a 50 per cent discount rate
3. No stamp duty or registration fee
4. Loan at 4 per cent interest for 20 years
5. Up to 30 per cent subsidy in capital expenditure
6. Subsidised water, electricity connections