Granules, Laurus Labs to invest Rs 700 crores for setting up Greenfield facilities
Rama Rao thanked the leadership of both the companies for choosing to invest in Telangana and said the state government would provide all possible support to them.
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Hyderabad: Two city-based pharma companies- Granules India and Laurus Labs on Tuesday separately announced major investments in Genome Valley here.
Granules India said it would be setting up a facility with a capacity to manufacture 10 billion units of finished dosages at an investment of Rs 400 crore The proposed unit would generate employment for about 1,600 people, an official release from Industries Minister K T Rama Raos office said.
Laurus Labs, a leading research driven Pharmaceutical Manufacturing Company, announced setting up of a formulation Facility with a unit capacity of 5 billion.
The company plans to invest Rs 300 crores in two phases of Rs 150 crore each.
Phase one of the plant is expected to provide employment to about 150 people, it said.
Granules India has manufacturing sites in eight locations and presence in 75 countries.
The company already operates the world's largest Commercial Pharmaceutical Formulation Intermediates (PFI) Facility at nearby Gagillapur.
Krishna Prasad Chigurupati, Chairman and Managing Director of Granules India Ltd, met Rama Rao on Tuesday to formally make this announcement, it said.
Satyanarayana Chava, CEO, Laurus Labs, also separately met the Industries Minister today, along with his team before making the announcement.
Industries Department Principal Secretary Jayesh Ranjan was also present in the meeting.
Rama Rao thanked the leadership of both the companies for choosing to invest in Telangana and said the state government would provide all possible support to them.
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