Pharma park MoU for Rs 750 crore signed

He said that promoters were already running various pharmaceutical formulations and allied industry in Himachal for the last 20 years.

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Last Updated on January 24, 2022 by The Health Master

Chief Minister Jai Ram Thakur said today that an MoU has been signed between the government of Himachal Pradesh and M/s JAGS Pharma Pvt. Ltd. for setting up a Rs 750-crore pharma park consisting capsule shell manufacturing and formulation and allied activities.

The investment would generate direct employment opportunities for more than 1,000 people. The MoU was signed by Director of Industries Rakesh Prajapati on behalf of the government of Himachal Pradesh.

The Chief Minister said the project would generate employment opportunities for local youth. “The government has already submitted a competitive proposal of an API park to the government of India and we are hopeful of getting it,” he revealed.

He directed the officials to extend guidance and full cooperation to investors. He said the land requirement for this pharma park was around 20 -30 acre. Ancillary units were also expected to come along with the project.

He said that promoters were already running various pharmaceutical formulations and allied industry in Himachal for the last 20 years.

The Chief Minister said that estimated API capacity of this park would be 4,000 tonnes of different molecules for making pain killers, antibiotics, anti-diabetics, cardio vascular etc. and would be a big boon to the local formulation industry.

“The government of Himachal Pradesh has already submitted highly competitive bid for a bulk drug pharma park which was being evaluated by Department of Pharmaceuticals, Government of India,” he stated.

The Chief Minister said that Kinvan Pharma park with investment of 850 crore was also being developed at Nalagarh, which would meet 57 per cent requirement of antibiotics in the country.

Department of Pharmaceuticals, Government of India, has already approved M/s Kinvan Pharma project under production linked scheme in the line of making India self-reliant in pharma sector.

Would generate jobs

  • The CM said the project would generate employment opportunities for local youth.
  • He directed the officials to extend guidance and full cooperation to investors.
  • The land requirement for this pharma park was around 20 -30 acre. Ancillary units were also expected to come along with the project.
  • The promoters were already running various pharmaceutical formulations and allied industry in Himachal for the last 20 years.

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