Business Update9 Sept 2024, 11:11 pm
Bal Pharma Ltd. to Establish New API Manufacturing Facility in Karnataka for Rs. 30 Crores
AI Summary
Bal Pharma Ltd. announced the outcome of their board meeting, held on 09.09.2024, where they decided to set up a green field project at Kadechur KIADB industrial area, Yadgir District, Karnataka. The project, with an estimated cost of Rs. 30 crores in the first phase, aims to meet stringent regulatory requirements of developed markets. The Active Pharmaceutical ingredients (API) manufacturing facility is expected to be completed in 36 months, have an initial production capacity of 120 tonnes per annum, and cater to both domestic and international markets. This new facility will enhance Bal Pharma's API manufacturing capacity, complementing their existing facilities in Bangalore, Udaipur, and Sangli.
Key Highlights
- Bal Pharma to invest Rs. 30 crores in a new API manufacturing facility in Karnataka
- The new facility is designed to meet stringent regulatory requirements of developed markets
- The project is expected to be completed in 36 months with an initial production capacity of 120 tonnes per annum
- The new facility will cater to both domestic and international markets
- The new API production facility is expected to enhance Bal Pharma's existing API manufacturing capacity