Andhra Pradesh Chief Minister inaugurates three pharma companies, lays foundation stones for two bulk drug units in Anakapalli district
The Hindu
CM Jagan Mohan Reddy inaugurated 3 pharma companies & laid foundation stones for 2 bulk drugs units in Anakapalli. The projects, worth ₹1,611 crore, will provide employment to 2,450 people.
Chief Minister Y.S. Jagan Mohan Reddy took part in the inauguration and groundbreaking ceremonies of the pharma projects worth ₹1,611 crore, owned by two different firms (Laurus Synthesis Pvt. Ltd, and Eugia Steriles Private Limited ) at two different locations – Parawada and Atchuthapuram – in the district on Monday.
He inaugurated three pharma companies and participated in groundbreaking ceremony of two bulk drugs units.
While the Laurus’ projects are worth ₹1,111 crore, the Eugio’s projects are worth ₹500 crore. Both firms are expected to provide employment to around 2,450 people.
According to Industries Minister Gudivada Amarnath, the Chief Minister inaugurated the Eugia’s phase three unit in the area of 20 acres identified by APIIC at Parawada. It is a greenfield project of manufactuing general injectables (injections). The company can provide 750 jobs through this company.
The Chief Minister later inaugurated two projects of Laurus. A brownfield project with an investment of ₹440 crore was inaugurated at the APSEZ in Atchuthapuram. The project was developed on 45 acres and will generate employment to around 500 people. The project’s activity is formulations and bulk drugs with a capacity of five billion per year.
The second one was the greenfield project for producing bulk drugs. The investment was ₹191 crore. It was built in 24 acres of land in the APSEZ. The plant’s capacity is 80 tons per annum with generation of around 300 jobs.
Earlier, the Chief Minister laid the foundation stones for two more projects of the Laurus at JNPC Parawada. One of them was a greenfield project for producing bulk drugs with plant capacity of 655 tons per year. An amount of ₹240 crore would be invested on this project, which is expected to generate employment to around 450 people. It is being developed in 15 acres of the land.
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