Mankind to set up Rs. 1100 crore pharmaceuticals plant in Vadodara
February 26, 2021
Gandhinagar: India’s leading pharmaceuticals company Mankind Pharma will set up Rs. 500 crore pharma products manufacturing plant in Vadodara for which the Government of Gujarat has given in-principle approval. Proposed plant will see total investment of Rs. 1100 crore including Rs. 500 crore in the first phase.
These details were shared today by Additional Chief Secretary, MK Das adding that this announcement was made by company and virtual signing was held during ongoing event ‘Indian Pharma and Medical Devise 2021’.
Das said, the Government of India’s department of pharmaceuticals has given its nod for later of intent and project outlay of proposed plant.
He said the plant will be 100 per cent export oriented. Pharma products produced in Gujarat will be exported to countries like America and Netherlands. Companies like Mankind will also be eligible to get benefit of Production Linked Incentive(PLI) scheme of the Government of India.
Das said, 53 per cent of total foreign direct investment (FDI) during April-September 2020 period in India was in Gujarat. DeshGujarat
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