Hand over Biotech's vaccine plant to TN on lease: Stalin to Modi

The Tamil Nadu government has proposed to take on lease HLL Biotech Ltd's integrated vaccine complex (IVC) near Chennai without past liabilities to run it with a private party.
In a letter to Prime Minister Narendra Modi, Tamil Nadu Chief Minister M.K. Stalin has said that the assets of the vaccine complex be handed over to the state government on lease with full operational freedom and without past liabilities.

"The state government will identify a suitable private partner immediately and will make all efforts to commence vaccine production at the earliest," Stalin told Modi.

According to Stalin, suitable financial arrangement for Central government to recover part of its investment can be subsequently worked out, after commencement of operations at the plant.

Stalin said the high capacity vaccine production unit is lying unutilized.

"The government of India has already invested around Rs 700 crore in this manufacturing facility, which is almost complete but has been lying unutilized for want of additional funds," Stalin said.

"The recent attempt to find a private partner to run the IVC has also not borne fruit, as there were no bidders for it," Stalin pointed out to Modi. - IANS