Ahmedabad-based Cadila Pharmaceuticals is planning to invest Rs 100 crore for setting up a drug formulations manufacturing facility at Malipada near Bhubaneswar in Odisha.
The company has recently signed an investment intention form (IIF) with state government at the Make in Odisha Conclave 2022, in Bhubaneswar. The agreement was signed by Hemant Sharma, Principal Secretary of Odisha’s Industries Department, and Raj Prakash Vyas, President of Corporate Affairs at Cadila Pharma in the presence of Odisha Chief Minister Naveen Patnaik at the Conclave.
The company will set up the new plant at Malipada, in the outskirt of the Capital city of Bhubaneswar. The project was signed under the new Industrial policy 2022 guidelines and will avail all the benefits under it. The upcoming greenfield state-of-the-art facility will be one of the biggest pharmaceutical manufacturing units in the region, and the state government has assured of providing fast-track approvals for the project.
“The planned state-of-the-art pharmaceutical formulation manufacturing unit in Odisha is a strategic engagement for Cadila Pharmaceuticals in its business expansion and diversification strategy. It will also go a long way in establishing a strong presence in the eastern part of the country,” –
Raj Prakash Vyas, President of Corporate Affairs, Cadila Pharmaceuticals
