Monday, June 21, 2021

Hyderabad-based Omics to set up Rs 1,000-cr SEZ

Hyderabad: Omics International, Hyderabad-based company that is primarily into open-acess journals and international scientific conferences, is going to set up a Rs 1,000 crore special economic zone (SEZ) at Chandanagar, Hyderabad, spread over 25 acres. The company which has obtained Government of India approval for the project has chosen Hyderabad-based property developer Phoenix Group to develop this project.

First phase of the project could attract an investment of about Rs 300 crore, covering 10-acre area, which will be completed by end of 2019.

The one million sq ft space will create 5,000 jobs. Omics which owns the SEZ will occupy 50 per cent of the space for its captive purposes while the remaining half will be let out for other companies, Dr Srinubabu Gedela, MD, Omics International told Telangana Today.

Omics owns 1,000 open-access journal titles and posts 50,000 articles every year in medicine, technology and engineering. The company’s conference division has organised 3,000 events in 40 countries, worldwide. Omics has revenues of Rs 950 crore today which it plans to take it to Rs 2,000 crore by 2020.

Gedela currently operates his business from a 2,50,000 square feet-office in a SEZ at Raidurg. More than two-thirds among the 2,000 people employed by Omics are women. Omics plans to expand the company’s operations soon.

The group company Pulsus is also going to create a SEZ at Rushikonda in Visakhapatnam, which will be fully captive. It will attract an investment of Rs 100 crore. This project will be launched by March/April this year. It will operate as a health informatics and pharmacovigilance IT and ITES unit. It also is planning to establish a skill development centre for life sciences in Visakhapatnam.

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