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Life Chem Pharma intends to establish a new active pharmaceutical ingredients (API) project in Panoli, Gujarat. The project is still in the planning stages, but completion is planned by 2025. The project will generate APIs for a variety of medications, including antibiotics, anti-cancer treatments, and anti-diabetic pharmaceuticals, with a capacity of 309.4 tons per year. The facility is scheduled to be finished in 2024 at a cost of 5 crores.
The project is supported by a combination of loan and equity. A consortium of banks is providing debt capital, while Life Chem Pharma and its investors are providing equity funding. The project is expected to have a considerable economic impact upon the area. It is intended to increase investment, create jobs, and attract other pharmaceutical companies to the region. The project is also projected to have a good environmental impact.
The plant will use environmentally friendly technologies and will be dedicated to lowering its environmental impact. The Life Chem Pharma API factory is a significant investment in India's pharmaceutical industry. It reflects increased trust in the Indian pharmaceutical sector and the Indian market's potential. Here are some of the benefits of the project: It will create jobs and boost the local economy. It will attract other pharmaceutical companies to the region. It will help to reduce India's dependence on imported APIs. It will help to improve the quality of APIs produced in India.
It will help to make India a global leader in the pharmaceutical industry. The project is facing some challenges, such as the availability of land and water, and the need to obtain environmental clearances. However, the company is confident that the project will be completed on time and within budget.
As of September 2023, The project is currently in the stage of being approved currently awaiting approval from the government.
News by Rahul Yeligetti
