JB Chemicals to set up pharma SEZ in Gujarat

By Staff
|
Google Oneindia News

New Delhi, Jan 17: JB Chemicals and Pharmaceuticals Ltd (JBCPL) will develop and construct a pharmaceutical sector Specific SEZ at Panoli, Gujarat, with an estimated investment on infrastructure of Rs 115 crore.

The company has signed a MoU with the Gujarat government and plans to set up the said SEZ as a developer at Panoli dedicated to the manufacturing of pharma finished formulations, API's and their intermediates and service activities related to R&D and contract manufacturing, it said in a statement today.

The SEZ construction will be completed during 2009.

Mr Kamlesh Udani, the company's executive director, said, ''We are looking forward to this unique SEZ being a tremendous benefit and boost to the economy of Gujarat.'' The Company has already identified the land for the SEZ spread over an area of 325 acres.

''JBCPL has already initiated talks with a few potential Indian and international entrepreneurs for its SEZ and is in the process of identifying and partnering with a real estate developer for setting-up the SEZ,'' he added.

The industrial units in the SEZ, with a total investment of over Rs 800 crore, will generate direct employment of about 6,000 people and indirect employment of over 15,000 people.

The company will set aside some area for selling up social world class infrastructure facilities in the non-processing area.

UNI

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