Granules India plans Rs 400 cr unit; Laurus Rs 300 cr facility

Hyderabad has been the frontrunner in life sciences sector attracting multi-national and large domestic companies across pharmaceuticals, biotechnology and clinical research areas. In line with the success it has seen in attracting investments, two pharma companies Granules India and Laurus Labs have committed a cumulative investment of Rs 700 crore in setting up new units in Genome Valley, Hyderabad.

Granules India is investing Rs 400 crore to set up a finished dosages unit while Laurus Labs is investing Rs 300 crore for a formulations manufacturing facility.

Granules India, a Hyderabad-based pharmaceutical company, will be making a major investment of Rs 400 crores to set up a manufacturing facility with a capacity to make 10 billion units of finished dosages. The proposed unit will generate employment to about 1,600 people.

Granules India already has manufacturing sites in eight locations and presence in 75 countries across the globe. The company already operates the world’s largest commercial Pharmaceutical Formulation Intermediates (PFI) Facility at Gagillapur near Hyderabad.

Krishna Prasad Chigurupati, CMD of Granules India met IT & Industries Minister KT Rama Rao at Pragathi Bhavan today to formally make this announcement.

Similarly, Laurus Labs, a research-driven pharmaceutical manufacturing company will be setting up a formulation facility with a capacity of 5 billion units. The company plans to invest Rs 300 crores in two phases of Rs 150 crores each. Phase 1 of the plant is expected to provide employment to about 150 People.

Satyanarayana Chava, CEO, Laurus Labs, met the Industries Minister along with his team before making this announcement. Industries Department principal secretary Jayesh Ranjan was also present in the meeting.

Laurus Labs has its R&D facility in IKP Knowledge Park, Hyderabad and also operates six manufacturing units in Visakhapatnam. All these facilities have been certified and approved by WHO, USFDA, NIP Hungary, and other renowned agencies. Laurus manufactures bulk drugs for anti-retroviral (ARV), oncology, cardio-vascular, anti-diabetics, anti-asthma and gastroenterology.

KTR thanked the leadership of both Granules India and Laurus Labs for choosing to invest in Telangana.
He stated that the Telangana government will provide all possible support to both these companies and the proactive policies of the State government, under the leadership of CM K Chandrashekar Rao are attracting global leaders in IT, Pharma, Textiles, Aerospace and Defence and other sectors to Hyderabad and other parts of Telangana.

The Minister expressed confidence that these investments into the manufacturing sector will provide the needed employment to local youth from Telangana.

Ester Industries to set up ₹1,350-cr polyester packaging film unit in Telangana

Ester Industries Ltd., a listed company, will invest about ₹1,350 crore to set up an advanced polyester packaging film manufacturing facility in Telangana.

The Gurgaon-based firm is a manufacturer of polyester films, specialty polymers and engineering plastic compounds. It currently has a manufacturing facility in Khatima district of Uttarakhand.

The investments will be made in three phases. “Implementation of the first phase is scheduled to be completed by the third quarter of 2022. This project will create direct employment for about 800 people,” a top official of the Telangana government has said.

Welcoming the move, Telangana IT and Industries Minister KT Rama Rao assured the firm of all help from the government in rolling out its plans in the State.

The firm proposes to export 30-40 per cent of its production, which will help to establish Telangana’s footprint on the global flexible packaging map, according to Arvind Singhania, Chairman of the firm, said.

Source : Hindu

Launch the Electric Vehicle Policy at the Telangana EV Summit

IT and Industries Minister KTR along with Transport Minister Puvvada Ajay Kumar will launch the Electric Vehicle Policy at the Telangana EV Summit to be held on Friday, October 30th, 2020 at 10:30 AM at MCRHRD Institute, Hyderabad.

A line of prominent speakers will share their thoughts during the summit at a Virtual Session on ‘Scaling Indian EV Ecosystem through Partnerships and Collaboration’. The speakers include Jayesh Ranjan, IAS; Sri Amitabh Kant – CEO, NITI Aayog; Dr. Pawan Goenka – MD & CEO Mahindra & Mahindra; Sri EV Narasimha Reddy – VC & MD, TSIIC; Sri Sunil Mehta – Chairman, Yes Bank.