Wockhardt signs MoU for pharma SEZ in M’rashtra

MUMBAI: Pharmaceutical and biotechnology major Wockhardt signed a memorandum of understanding (MoU) with Maharashtra Industrial Development Corporation (MIDC) to establish a special economic zone (SEZ) in Aurangabad.

The MoU was signed by Rajiv Jalota, chief executive officer, MIDC and Huzaifa Khorakiwala, Wockhardt executive director, in the presence of Maharashtra chief minister Vilasrao Deshmukh.

The SEZ will be spread over 107 hectares of land leased by MIDC at Shendra. The Wockhardt Group will establish a pharmaceutical manufacturing and research facility at the SEZ. It is expected to create 2,000 new jobs.

“This SEZ will provide the base for a new thrust in international markets that will drive Wockhardt’s growth in the coming years,” Wockhardt chairman Habil Khorakiwala said. “It will make Aurangabad a major hub for pharmaceutical and biotechnology industries.”

Mr Khorakiwala complimented the state government for its support and fast clearance of the first major pharmaceutical and biotechnology SEZ in the state.

The SEZ will house manufacturing facilities for active pharmaceutical ingredients, biopharmaceuticals, research and development centre, effluent treatment plant, a corporate office, warehouse and a residential and recreational complex.