King Chem Lifescience planning to set up Drugs Manufacturing Unit Project in Gujarat

King Chem Lifescience Private Limited is an Indian pharmaceutical firm headquartered in Surat, Gujarat. It was established on April 21, 2021. The company intends to establish a new bulk medicine and intermediates project in Tadkeshwar, Surat. The project is still in the planning stages, but the corporation has already purchased property for the location and is working to gain the necessary approvals. The project's budget is 5 crores. 

The project is expected to begin construction in early 2023 and be completed by the end of 2024. The new plant will manufacture antibiotics, anti-inflammatories, and cardiovascular medications, among other things. King Chem Lifescience Private Limited intends to export a major amount of the plant's output to global markets. 

The initiative is part of King Chem Lifescience Private Limited's plan to increase its footprint in the bulk pharmaceuticals and intermediates sector. In addition, the company intends to increase manufacturing capacity for other pharmaceutical products such as formulations and active pharmaceutical ingredients (APIs). The project is anticipated to benefit the Indian pharmaceutical industry. It will generate jobs and stimulate the local economy. 

The project will also aid in the reduction of India's reliance on imported bulk pharmaceuticals and intermediates. The initiative is also projected to benefit King Chem Lifescience Private Limited by assisting it in expanding its product line and increasing its market share.

As of September 2023, The project is now in the stage of construction being started the work on the project will be finished in 2024, 2025 or 2026 It has been decided to hire a local contractor.

News by Rahul Yeligetti