- Setup of manufacturing unit on 12400 sqm of land in Ethiopia
Mumbai, August 08, 2018: Kilitch Drugs (India) Ltd,a fast growing pharmaceuticals company listed on NSE and BSE, today announced its plans to focus on African markets with a state-of-the-art Cephalosporin injectable plant near Adis Ababa – capital city of Ethiopia.The unit will have a capacity of 20 million vials and commence operations in FY 2019 – 2020. Besides vials, the plant will also produce tablets, capsules, dry syrup, etc.
Commenting on the initiative, Mr. Mukund P Mehta, Managing Director, Kilitch Drugs Ltd., said “We understand African markets well and believe that the region is the next bastion for growth. We expect this project to become a shining example of India-Ethiopia partnership and bear testimony to increasing Indian investments in the region.”
By 2020, Kilitch Drugs plans to register more than 500 products in the African markets. “Africa is a highly complex but profitable market. Our presence there would mean a potential doublingof revenues and significant improvement in margins.
Kilitch Drugs has joined hand with Estro to setup the manufacturing unit. Kilitch Drugs is the first company in Ethiopia to have a dedicated Cephalosporin injectable plant along with other Oral dosage forms. Initially the allocated land was 6700 sqm plot later based on the progress and proposal submitted for expansion, Oromia Region Investment commission has allocated another 5700 sq. meter of land, hence total land allocated is 12,400 sq. meter.added Mr. Mehta.
Corporate Comm India(CCI Newswire)
