Omics International launches Rs.1,000 cr SEZ

The Hyderabad-based company is setting up a Rs.1,000 crore special economic zone (SEZ) at Chandanagar on an area of 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. Omics which owns the SEZ will occupy 50% of the space for its captive purposes while the remaining half will be let out for other companies, Dr. Srinubabu Gedela, MD, Omics International said that the company owns 1,000 open-access journal titles and posts 50,000 articles every year in medicine, technology and engineering. Omics plans to expand the company's operations soon as its group company Pulsus, is also going to create a SEZ at Rushikonda in Visakhapatnam, which will be fully captive.