Eight new companies start functioning at Bio360 Life Sciences Park

Eight new companies have started functioning at the Bio360 Life Sciences Park at Thonnakkal here. Industries Minister P. Rajeeve on Friday handed over the agreements to the representatives of the eight companies. One of the companies had shifted their base from Andhra Pradesh.

Mr. Rajeeve said that the fact that eight new companies started their manufacturing and innovation centres at the Life Sciences Park in a single day is a reflection of Kerala’s industrial-friendly ecosystem. According to him, the investment across all the eight companies is over ₹70 crore, while 700 new employment opportunities are expected to be created with these new initiatives.

“The renewed industrial-friendly policies are attracting investments with globally renowned companies expanding their activities in the State,” he said citing the example of IBM setting up two units in the State within two years. HCL has already started a development centre in Kochi and discussions are under way for a new centre in Thiruvananthapuram.

Five of the companies are setting up manufacturing facilities while the remaining are setting up innovation centres at the Bio360 Life Sciences Park. EnProducts, Sascan Meditech, Centre for Research on Molecular and Applied Sciences (CRMAS), Hanumat Agencies and Alverstone are setting up manufacturing plants. IQzyme Medtech, Gnanlex Associates and Eleman Medical Devices are setting up innovation centres.

Published - November 29, 2024 07:30 pm IST