Business

Cadila Pharmaceuticals signs MoU, to invest Rs 1,000 crore in Gujarat

According to the agreement, the company will establish an Active Pharmaceutical Ingredients (APIs) plant in Dahej, Bharuch, and Ankleshwar, as well as a tablet and capsule manufacturing plant in Dholka.

• By Newsdesk
• Ahmedabad
• Mar 22, 2023

Business

Cadila Pharmaceuticals signed an agreement with the Gujarat government on Monday to invest Rs 1,000 crore over three years in expanding existing facilities in the state. During the MoU signing ceremony in Gandhinagar, Chief Minister Bhupendra Patel and Industries Minister Balwantsinh Rajput were present.

As per agreement, the company will establish an Active Pharmaceutical Ingredients (APIs) plant in Dahej, Bharuch, and Ankleshwar, as well as a tablet and capsule manufacturing plant in Dholka, the company said in an official statement. The proposed plants are expected to employ 500 people directly by 2025, according to the statement.

“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.