Mankind Pharma to invest Rs 200cr to open 2 plants by mid-2016
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New Delhi, Nov 29 (PTI) Drug firm Mankind Pharma will invest Rs 200 crore to open two manufacturing plants in the country by the middle of 2016 as part of its expansion plans. "We plan to invest Rs 200 crore, excluding the land cost, to open two plants by middle of 2016. One of them will be in Sikkim and the other one at Behror in Rajasthan," Mankind Pharma Managing Director Sheetal Arora told PTI.
The Sikkim plant, which will entail an investment of Rs 150 crore, will be opened by March 2016, while the Behror plant would require around Rs 50 crore and will be ready by middle of next year, he added.
When asked how the company would finance the expansion, Arora said: "It will all be through internal accruals." The Behror facility will focus on Active Pharmaceutical Ingredients (APIs), while Sikkim plant will focus on products for different segments of the firm, he added.
The Sikkim plant, which will entail an investment of Rs 150 crore, will be opened by March 2016, while the Behror plant would require around Rs 50 crore and will be ready by middle of next year, he added.
When asked how the company would finance the expansion, Arora said: "It will all be through internal accruals." The Behror facility will focus on Active Pharmaceutical Ingredients (APIs), while Sikkim plant will focus on products for different segments of the firm, he added.
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