Telangana Chief Minister K. Chandraskhar Rao on Thursday said the State Government is all set to launch a new industrial policy as All India Service officers are settling down in their posts after reallocation between Telangana and Andhra Pradesh.

Laying the foundation for insulin facility of Shantha Biotechnics Limited here, he said that the Government had enacted a law with regard to the policy. It will now get into the nitty-gritty of the policy including the time frame for providing necessary approvals for industrial projects.

“There will be no need to roam around individuals or officials,” since the State Government is planning to provide all clearances to industries within 15 days. In the event of the approvals not coming within the said time frame, it will be construed as given. “No more saluting CM or Minister”, he said adding that the State Government perceived clearances as a matter of right of the investors.

He invited pharma giant Sanofi, which owns Shantha Biotechnics to invest in Telangana. He said "you have a unique state in Telangana and a unique diamond in Dr. K. I. Varaprasad Reddy founder and chairman of Shantha Biotechnics. He said that the state and the society has a lot of respect for Dr. Reddy who is working towards increasing the access to vaccines and making them affordable.

The Chief Minister went on to elaborate that the new industrial policy would make it hundred per cent hassles-free for investor and would be in sync with the government emphasis on zero tolerance to corruption. He also assured the potential investors of meeting personally and handing over the clearances pertaining to land and sanctions related to power, water to them with in 15 days.

Sanofi will make an investment of Rs.460 crore on this facility located at Muppireddipalli, 40 km from Hyderabad. This will be Sanofi’s second plant in addition to the company’s existing Insuman plant in Frankfurt, Germany. The 13,400 square metre building and the site will become fully operational by 2019.

Source: TH