Lupin proposes to set up a SEZ in Maharashtra
Pharma major Lupin proposes to set up a sector-specific Special Economic Zone (SEZ) in Maharashtra to produce API and formulations with an initial investment of Rs 200 crore.
By PTI |
MUMBAI: Pharma major Lupin proposes to set up a sector-specific Special Economic Zone (SEZ) in Maharashtra to produce API and formulations with an initial investment of Rs 200 crore.
The company is believed to have already put forward its proposal to the Maharashtra Government seeking, allotment of land, sources told PTI here.
Lupin has initially identified a 100 acre land in Nashik to set up the SEZ. However, if that does not fructify, the company would like to put up the facility on a 250 acre land in Lote Parshuram, near Pune.
When contacted, sources at Lupin, acknowledging the plan, said the company would like to set up a manufacturing plant inside the SEZ and would not sell space to others.
"We propose to put up a manufacturing plant inside the SEZ, but, in no way, are we going to develop it for the use of others," a source said.
Lupin, a global leader in API and formulations, has plans to initially invest Rs 200 crore, which may go up to anywhere between Rs 400 crore and Rs 500 crore, sources said.
Setting up a manufacturing plant within the SEZ gives a company a lot of incentives.
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