Hyd-based pharma gets approval from CBN

Hyderabad-based pharmaceutical company, Divi’s Laboratories Limited for setting up greenfield manufacturing facility in East Godavari district is one among the six proposals which got approved by Chandra Babu Naidu on Monday. The combined investment of these 6 proposals would add to Rs 2,003 crore.

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Besides, Divi’s Laboratories, an integrated food park by Jain Irrigation Systems Limited also got approval to invest Rs.365 crore. Mohan Spintex and Bangalore-based Indian Designs from the textile sector and Vayhan Coffee Limited also got approval to invest Rs. 289.2 crore, Rs. 33.5 crore and Rs. 275.95 crore respectively.

However Hyd-based Divi’s Laboratories is the highest investor (Rs. 789 crore) among the six proposals approved. These proposals are expected to create huge employment of around 35,000 job opportunities in various modes. The SIPB (The State Investment Promotion Board) cleared the investments granting all the incentives and much more than promised.