Cadila Pharmaceuticals to set medicinal plant in Udaipur
Ahmedabad based Cadila Pharmaceuticals is planning to set a medicinal unit at Udaipur with an initial investment of Rs 130 Crore, which may go up to Rs 500 crore as the project will enter in its second phase of development.
In the recent State Cabinet meeting, the Pharma giant was able to get all the necessary approvals, which were additionally sanctioned by the Chief Minister of the State, Mr. Askok Gehlot, as he headed the meet.
With all the required approvals, Cadila pharmaceuticals will be setting up an Active Pharmaceuticals Ingredients (API) and Manufacturing Unit very soon, in the city of lakes, Udaipur.
Cadila Pharmaceuticals will provide employment opportunity to more than 850 people after establishing this unit. This opportunity is not limited to the city only, but its people will get more benefits out of it because the unit will attract more opportunities towards it, which will eventually contribute in the development of this rapidly developing City.
If sources are to be believed, Cadila Pharmaceuticals will also be provided a realisation on the entry tax on some of its capital goods. In order to make this project more successful, Cadila Pharma will be given 70% directive grant and 5% planning grant by the concerned authorities.
The plant might get established in RIICO industrial area of Kaladwas, as 30 acres of land has already been reserved for this purpose. The sources also notified that the Cabinet has additionally approved investment plans worth Rs 8,800 crore for Rajasthan.
Ahmedabad-based Cadila Pharmaceuticals is among largest Pharma companies in the private sector of India, with presence across the 90 countries.
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