Gujarat upbeat with setting up of 42 new pharma plants with investment of Rs. 617 crore
Following 273 MoUs inked as
part of the 9th Vibrant Gujarat (VG) Summit-2019 held between January 18 and
22, Gujarat has set up 42 new pharmaceutical plants with an investment
of Rs. 617.40 crore. Around 129 plants are also in the process of
getting commissioned in the coming months.
In Vadodara, Alembic Pharmaceuticals Ltd which manufactures capsules and tablets has set up the plant with the biggest investment of Rs. 300 crore followed by formulation manufacturer DWD Pharmaceuticals Ltd at Rs.50 crore and United Capz Pvt Ltd which manufactures empty hard gelatin capsule has setup unit in Valsad at Rs. 48 crore. Ahmedabad based Edkem Pharmaceuticals Ltd which manufactures capsules, tablets, oral liquid and external preparation has set up the unit with an investment of Rs. 35 crore, Bulk drugs manufacturer Rubamin Ltd has made an investment of Rs. 25 crore for its unit at Panchmahal and anti fungal bulk drug unit Pranami Drugs Pvt Ltd has made an investment of Rs. 14 crore in its Bharuch unit. While Piramal Enterprises Ltd has expanded its existing manufacturing facility of solid oral dosage at Rs. 10 crore, Lupin Ltd has expanded its existing facility with an investment of Rs. 7 crore. Other companies include formulation manufacturer Aashka Formulation Pvt Ltd at Gandhinagar, ayurvedic manufacturing facility Sol Derma Pharmaceuticals Pvt Ltd at Ahmedabad, pharmaceutical company Prayosha Healthcare, CRS Herbals, AR Lifesciences, Aseem Perfume & Cosmetics, Creative Research Labs Pvt Ltd, Bizotia Lifescience Pvt Ltd, Renova Lifesciences Pvt Ltd, Alpine Labs, Azafran Innavacion Ltd, Nucare Labs, Soham Healthcare, Nagindas Hiralal Bhayani, M V Enterprise, Swastik Chemicals, Reino Remedies Pvt.Ltd. etc. Two medical device manufacturers Flexus Surgicals Pvt Ltd at Ahmedabad and Prime Medica Promotion Pvt Ltd at Vadodara have made investments of Rs. 6 crore and Rs. 2.5 crore respectively. While 13 new companies have proposed an investment of more than Rs. 100 crore during the summit, 68 companies have proposed an investment in the range of Rs. 10 to Rs. 99 crore. The 273 MoUs signed represent 74 bulk drug companies, 187 formulation companies besides 102 plants which are under construction. In total, Gujarat based companies have proposed big ticket investments worth Rs. 8,223 crore through 273 MoUs. It will also translate into total direct employment to around 19,000 people. There was an investment of Rs. 2,558 crore in VG Summit 2015 and an investment of Rs. 2,438.51 crore in VG Summit 2017. There are a total 218 new companies which have shown interest for investments out of the 273 MoUs signed with 55 companies having plans of expansion. Ahmedabad based CRRI Holding Inc which is into regenerative medicine has proposed an investment of Rs. 3,500 crore. VG Summit was conceptualized in 2003 by the then Chief Minister of Gujarat Narendra Modi to re-establish Gujarat as a preferred investment destination within India Source: http://www.pharmabiz.com/ArticleDetails.aspx?aid=115003&sid=1 |
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