Indian Firm To Set Up Bulk Drugs Unit
Ind-Swift Laboratories Ltd, a company owned jointly by Ind-Swift Ltd andPunjab State Industrial Development Corp, is setting up a bulk drugs complex in India's northern state of Punjab, according to the country's Financial Express.
The project has been appraised by several governmental financial agencies for loans. The firm's management has decided to keep a one-for-one debt equity ratio for financing the project. PSIDC is contributing 38.3 million rupees ($1.1 million) to the equity of the company, while Ind-Swift plans to launch a public issue worth about 57.8 million rupees in April.
The FE quoted the company's managing director, Mr N Munjal, as saying that it will manufacture sterile cephalosporins, steroids, antibiotics, vasodilators, bulk drugs and drug intermediates. The plant will have an installed capacity of 77.12 tonnes a year, and is being designed with technical collaboration of the Swiss firm Quara SA.
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