Unichem Lab to set up facilities in SEZ

Mumbai, July 27 (UNI) Unichem Laboratories Ltd has chalked out an ambitious multi-pronged strategy including setting up of a formulation manufacuring facility in the country's one of the specialised economic zone (SEZ).

The company plans to launch additional products from Brazilian and South African subsidiaries. Therefore, expansion in the manufacturing capacity of both formulations and bulk drug plants located at Goa, Ghaziabad and Baddi (Himachal Pradesh) was necessary.

In a statement here today, Unichem Laboratories Chairman Dr Prakash Mody said, ''The company plans to incur the total capital expenditures in the range of Rs 150 crore to Rs 175 crore over next two years. However, it does not include the investment in SEZ facilities and future acquisitions. Likewise, the proposed expansion will be financed through internal accrual and there will be no fund raising programme.'' ''It is too early to talk about SEZ unit, but all I can say is that we are looking at various options including pharmaceutical SEZ in Gujarat, Goa and Vishakhapatnam. This unit will be of international standard and cater exclusively to export market, he added.

UNI AR SSS SKB1922