Hyderabad, Nov 22 (IANS) Six pharma companies will invest Rs 5,260 crore to set up their manufacturing units in Telangana, it was announced on Friday.
The government will allocate land for the establishment of the new pharma manufacturing units in the Pharma City.
The MoUs in this regard were signed by representatives of the companies and the state government officials in the presence of Chief Minister A. Revanth Reddy on Friday.
Six companies expressed their interest to invest more than Rs 5,260 crore and these investments will provide 12,490 job opportunities in the pharma sector.
According to the Chief Minister’s Office (CMO), the companies entered MoUs with the state government to expand their operations and also to establish pollution-free green pharma companies.
Representatives of various pharma companies held talks with Chief Minister Revanth Reddy and Industries Minister D. Sridhar Babu at the Secretariat.
Dr Reddy’s Labs Director Satish Reddy, Laurus Labs ED V.V. Ravikumar, Gland Pharma CEO Srinivas, MSN Labs CMD M.S.N. Reddy, Aurobindo Pharma Director Madan Mohan Reddy, and Hetero Group Managing Director B. Vamsi Krishna, Telangana State Industrial Infrastructure Corporation (TSIIC) Chairperson Nirmala Jagga Reddy, Special Secretary to the Chief Minister, Ajith Reddy, and Special Chief Secretary, Industries Department, Jayesh Ranjan participated in the meeting.
As per the MoUs, MSN Laboratory will set up a manufacturing unit along with an R&D centre. Laurus Labs and Aurobindo Pharma will establish formulation units. Gland Pharma is ready to open an R&D centre, injectables, and drug substance manufacturing units. Dr Reddy’s Labs will establish an injectable and biosimilar unit. Hetero Labs will set up a finished dose and injectable manufacturing plant.
The Chief Minister directed the officials concerned to allocate land to the pharma companies to take up construction work in the next four months and also provide the required facilities in the Pharma City.
–IANS
ms/vd
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
