Pharma Giant to invest Rs. 1,000 crores in different ongoing projects in phases
Ahmedabad, March 25, 2023: One of the oldest and largest privately held pharma groups in the country, Cadila Pharmaceuticals Ltd., Ahmedabad signed a MoU with the government of Gujarat on Monday to invest Rs. 1,000 crores in different existing projects.
The MoU was signed in Gandhinagar on Monday morning between Industries Commissioner Mr. Rahul Gupta on behalf of the government of Gujarat and Cadila Pharmaceuticals COO Mr. Mitul Dave, under the Government of Gujarat’s “Atma Nirbhar Gujarat Schemes for Assistance to Industries” scheme.
Chief Minister Shri. Bhupendra Patel, Industries Minister Shri. Balvantsingh Rajput, Finance Minister Shri. Kanubhai Desai, and Senior Government officials were present at the MoU signing ceremony. Mr. Biswajit Mitra, Chief Mentoring Officer, Mr Mitul Dave, Chief Operating Officer, and Mr RajPrakash Vyas, President of Corporate Affairs were present from Cadila Pharmaceuticals Ltd.
“We are delighted to sign this MOU with the Gujarat Government. Gujarat is the most preferred investment destination because of its conducive business environment, ease of doing business, and investor-friendly policies. Cadila Pharmaceuticals Ltd. is in expansion mode and therefore investing to upgrade its existing facilities to meet emerging demands. We continue to grow and expand into newer geographies and categories in sync with our commitment to provide affordable medicines to the world,” said Dr. Rajiv Modi, Chairman & Managing Director of Cadila Pharmaceuticals Ltd.
Cadila Pharmaceuticals Ltd. will overall invest Rs. 1000 crores in a span of three years until 2025 for setting up an Active Pharmaceuticals Ingredients (APIs) plant at Dahej, Bharuch & Ankleshwar and the Formation of Tablet & Capsules at Dholka Dist. Plant.
As Proposed, these plants will create direct and indirect Employment for around 500 people (direct) and 1000 (indirect) respectively by 2025.
As per the MoU, the Government of Gujarat will facilitate Cadila Pharmaceuticals Ltd. to obtain necessary permissions, registrations, approvals and clearances from the concerned departments as per its existing policies and regulations.
Corporate Comm India (CCI Newswire)
