Last Updated on February 28, 2021 by The Health Master
In the first phase of the project, the company plans to invest Rs 500 crore for the plant that will be set up in Vadodara. Mankind Pharma will invest Rs 1,100 crore in a phased manner.
The letter of intent detailing the project outlay has been acknowledged by the department of pharmaceuticals and the department has assured all support for the proposed project.
M K Das, additional chief secretary, industries and mines, Government of Gujarat, said that Mankind Pharma is being extended all support from the government.
He added that companies such as Mankind Pharma will be able to benefit from Government of India’s Production-Linked Incentive (PLI) schemes and which in turn will help reduce the import dependency.
“The proactive and forward-looking initiatives of Government of Gujarat has ensured that the state still continues to be No.1 in attracting FDI investments in the country. The state has accounted for 53% of the total FDI investment received that of the entire country (April- September 2020),” he added.
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