Teva API to invest Rs 1,000 crore for setting up a formulation unit
The new unit coming up at the Indore SEZ will create job opportunity for over 500 people.
Indore, August 29, 2012: Pharmaceutical Company Teva API India plans to set up a formulations unit in the Indore Special Economic Zone (SEZ).
It is worth noting here that the company will invest close to Rs 1,000 crore (US$ 180.6 million) for the next five years which would create job opportunity for over 500 people.
Madhya Pradesh State Industrial Development Corporation is responsible for the development of the SEZ.
The investment from the Indian arm of the Israel-based Teva API has already received an approval from the Development Commissioner of Indore SEZ. The company plans to set up its unit using 70 acres of land.