Rs. 500 crore MoU signed for API unit in Himachal Pradesh

A Memorandum of Understanding (MoU) was signed between the State Government and M/s Concord Biotech Ltd. in presence of Chief Minister Jai Ram Thakur here today for setting up of Rs. 500 crore API based fermentation manufacturing plant in Una district.

Director Industries Rakesh Kumar Prajapati signed the MoU on behalf of the State Government while Chairman and Managing Director of Concord Biotech Ltd. Sudhir Vaid signed the MoU on behalf of the Company.

The project will be setup with a total investment of Rs. 500 crores over three phases in and around upcoming API Park in Una and will provide employment to 1000 persons. This project will have export potential of around 60-65 percent. The unit will be operational in two years and provide impetus to the socio-economic growth in the region. The government has committed full support to the company for obtaining necessary permissions and approvals.

Concord Biotech is India’s leading integrated biotechnology company manufacturing high quality fermentation-based niche bio-pharma APIs focused on immunosuppressant, oncology, anti-infective (antibacterial and antifungal), enzymes etc. It is one of the largest suppliers of immunosuppressant APIs in the world and the only Indian company offering over 20 Fermentation based API and is also having substantial exports.

Industry Minister Bikram Singh and ACS Industries and Power, R.D. Dhiman, Additional Director Industries Tilak Raj Sharma, Joint Director Industries Naresh Sharma and other senior officers were present on the occasion.

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