16650 Crores Investment in Telangana by Advent International

G GOWTHAM
With a massive investment of about Rs. 16,650 crore, Advent international, one of the biggest global private equity companies, has chosen hyderabad as the location of its Cohance Platform headquarters. This investment indicates the rising business confidence in Telangana's health sciences industry. KT Rama Rao, the minister of industries, posted on Friday: "Ecstatic to share that the leading global private equity firm, Advent international has chosen hyderabad as the headquarters for its "Cohance platform," with a cumulative whopping investment of USD 2 Billion (approximately Rs. 16650 Crores),"
The minister met with the company's managing director, Pankaj Patwari, and operating partner, Vaidheesh Annaswamy, to go through their investment and aggressive expansion plans. The minister posted further information on the meeting, saying, "I'm thrilled that the firm will be developing a greenfield R&D centre in hyderabad, underscoring the significance of the city in the pharmaceutical sector. Their ambitious expansion ambitions are evidence of Hyderabad's expanding importance in the pharmaceutical and life sciences industries.
The telangana administration has set an ambitious goal of growing the State's life sciences ecosystem from its current worth of $80 billion to $250 billion by 2030. The minister voiced confidence in Advent's ability to succeed in telangana and pledged to provide the industry's partners constant support in their expansion initiatives. Eom


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