Construction work of a vaccine production unit has started at Andharua in Bhubaneshwar and a target has been set to commence production of Covaxin by June 2022, the Odisha government has announced.
The vaccine unit being set up through Bharat Biotech International Ltd (BBIL) will produce around 10 types of advanced vaccines, including that for coronavirus and malaria, as per a release.
The construction of the vaccine production unit because of IDCO's "smooth land allotment process" and "ease of doing business reforms", stated the release further. The required statutory clearances and permissions have also been granted for setting up the unit. It was informed after a state-level Bio-Tech implementation committee meeting held virtually under the chairmanship of Chief Secretary Suresh Chandra Mahapatra from Lokseva Bhawan wherein Secretary Science and Technology Manoj Mishra outlined the administrative and financial issues for discussion.
Reviewing the progress made so far, Chief Secretary Mahapatra directed to expedite construction of the anchor vaccine production unit and laying off other critical infrastructure. Target was set to start the production of vaccines including Covaxin by June 2022, as per the release.
Mahapatra also directed the department to set up a professional directorate of biotechnology for having a focused and fastened approach towards incubation and setting up new industries in the sector.
Secretary Science and Technology Mishra appraised, "The government has made provisions for extending different incentives to biotech incubation and startups in the shape of the land allotment, exemption of stamp duty, land conversion, training subsidy, capital investment subsidy, interest subsidy. Under Odisha Biotechnology Policy of 2018. The extension of subsidies needs to be managed professionally for optimizing the outcomes.
It was decided that from the viewpoints of the 'ease of doing business' the institutional mechanism of IPICOL and Industries department would be authorised to monitor the implementation of these subsidies till operationalisation of a dedicated professional directorate of Biotechnology. Around Rs 15 crore were allocated under the 'Fund of Funds' of the MS and ME department for providing equity support to the incubating units in the Biotechnology sector.
Chairman and Managing Director IDCO Sanjay Singh appraised that IDCO has created a State of the Art O Hub incubation center near Infocity, Bhubaneswar. Singh also said that two floors with around 28 thousand sq ft space can be made available in this center for incubation facilities. It was decided to further develop the center with modern facilities and house the incubation units of MS and ME, IT, and Biotechnology in the same building to create an advanced and mutually boosting eco-system of incubation. Chief Secretary Mahapatra directed to decide the reasonable time period of extension of benefits like subsidised accommodation and other facilities in the incubation center for one unit.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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