Hindustan Syringes and Medical Devices to invest over Rs 100 crore to expand syringe production
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New Delhi: With the surge in Covid cases amid the rising demand for syringes during the ongoing vaccination drive in India, Hindustan Syringes and Medical Devices (HMD) on Sunday said that the company will invest over Rs 100 crore to expand its production capacity from 2.5 billion syringes to over 3 billion.
Rajiv Nath, Managing Director, HMD told that the company not only needs to invest in production lines of syringes-moulds, moulding machines, printing and assembly packaging, etc. but also in needle assembly, needles point grinding, recruiting workers and training them.
"Our current production capacity is over 2.7 billion syringes per annum of disposable and auto-disable syringes are approximately 90 lakhs daily. And we are investing over Rs 100 crore to ramp up capacity from 2.5 billion syringes to over 3 billion by next quarter," Nath informed.
The medical syringe major recently received an order for the supply of 265 million auto disable syringes from the Union government. The company has allocated two-thirds of its production capacity for the government orders, and the balance for global UN customers.
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