Rx Propellant announces 9 lakh-sft lab spaces in Hyderabad

Hyderabad: Rx Propellant, a life sciences infrastructure and cluster developer, on Tuesday announced the launch of nine lakh sft of lab spaces in Genome Valley here. The foundation stones for two new projects, B-hub and GV1, were laid by KT Rama Rao, Minister for Industries and Commerce, Government of Telangana.

Groundbreaking ceremonies for phase-II of three existing projects were also performed. With major footprint in Genome Valley, Rx Propellant has already developed 5 lakh-sft of lab space, most of which are operational with marquee names in life sciences.

In total, the current planned development of Rx Propellent at Genome Valley constitutes seven independent projects namely, Innopolis, Genopolis, Touchstone, ARX, Nextopolis, GV1 and B-hub, spread across 17 lakh sft, according to the release.

Milind Ravi, CEO, Rx Propellant, said, "We are pleased to announce the next phase of Rx Propellant's growth in Hyderabad and are thrilled that KTR is a significant part of this launch. Rx Propellant is changing the paradigm of R&D infrastructure in India along with the global outlook towards the country when it comes to research facilities and ecosystem.

The company has invested Rs 900 crore in development of current life sciences infrastructure and is committed to invest an additional Rs 2,000 crore to build a cumulative portfolio over 100 lakh sft of lab space over the next five years across Hyderabad and other major life sciences hubs of India.