India News | Rs 500 Cr MoU Signed for API Unit in Himachal Pradesh
Get latest articles and stories on India at LatestLY. A Memorandum of Understanding (MoU) was signed between the State Government and Concord Biotech Limited in presence of Chief Minister Jai Ram Thakur on Thursday, for setting up of Rs 500 crores Application programming interface (API) based fermentation manufacturing plant in Una district.
Shimla (Himachal Pradesh) [India], August 13 (ANI): A Memorandum of Understanding (MoU) was signed between the State Government and Concord Biotech Limited in presence of Chief Minister Jai Ram Thakur on Thursday, for setting up of Rs 500 crores Application programming interface (API) based fermentation manufacturing plant in Una district.
Director Industries, Rakesh Kumar Prajapati signed the MoU on behalf of the State Government while Chairman and Managing Director of Concord Biotech Limited. Sudhir Vaid signed the MoU on behalf of the Company.
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"The project will be set up with a total investment of Rs 500 crores over three phases in and around upcoming API Park in Una district and will provide employment to 1,000 people. This project will have an export potential of around 60-65 per cent. The unit will be operational in two years and provide impetus to the socio-economic growth in the region. The government has committed full support to the company for obtaining necessary permissions and approvals," stated the state government.
As per the statement, Concord Biotech is India's leading integrated biotechnology company manufacturing high-quality fermentation-based niche bio-pharma APIs focused on immunosuppressant, oncology, anti-infective (antibacterial and antifungal), enzymes etc. It is one of the largest suppliers of immunosuppressant APIs in the world and the only Indian company offering over 20 Fermentation based API and is also having substantial exports.
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Industry Minister Bikram Singh and ACS Industries and Power, R.D. Dhiman, Additional Director Industries Tilak Raj Sharma, Joint Director Industries Naresh Sharma and other senior officers were present on the occasion. (ANI)
(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)