IOL Chemicals to invest Rs 300 cr in next one year
Punjab-based IOL Chemicals and Pharmaceuticals on Saturday said it will be investing around Rs 300 crore in its proposed extension plan in the next one year.
By PTI |
BERNALA (PUNJAB): In tune with expected turnover of Rs 800 crore by 2010-11, Punjab-based IOL Chemicals and Pharmaceuticals on Saturday said it will be investing around Rs 300 crore in its proposed extension plan in the next one year.
The company has acquired 65 acres of land for its backward and forward integration project.
IOL is also entering into a new segment of proton pump inhibitors by undertaking the implementation of project to manufacture Rabiprazole, and anti-ulcer drug and its derivatives.
"As the Rabiprazole is going off-patent, we are entering into this new segment and by investing Rs 300 crore to achieve a turnover of Rs 800 crore in the year 2010-11" IOL Chemicals Chairman and Managing Director Varinder Gupta told reporters here.
The company has also proposed to construct another captive power generation plant of 13 MW in addition to its existing 4 MW plant in the next one year, the company said.
The company has acquired 65 acres of land for its backward and forward integration project.
IOL is also entering into a new segment of proton pump inhibitors by undertaking the implementation of project to manufacture Rabiprazole, and anti-ulcer drug and its derivatives.
"As the Rabiprazole is going off-patent, we are entering into this new segment and by investing Rs 300 crore to achieve a turnover of Rs 800 crore in the year 2010-11" IOL Chemicals Chairman and Managing Director Varinder Gupta told reporters here.
The company has also proposed to construct another captive power generation plant of 13 MW in addition to its existing 4 MW plant in the next one year, the company said.
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