Business giant Piramal Group has announced its decision to not only invest Rs 500 crore in the State but also to shift its plants from other States to new locations in Hyderabad, taking advantage of the ease of doing business without roadblocks offered by the State government.

Minister for IT and Industries K T Rama Rao, leading the delegation from the State at the 50th edition of the World Economic Forum in Davos, clinched the deal after a series of deliberations with the group’s business delegation headed by chairman Ajay Piramal at the Telangana Pavilion on Wednesday.

The group will invest Rs 500 crore, in the next three years, to expand operations of its pharmaceuticals division that manufactures life-saving medicines in Telangana State, to make it one of the best facilities globally in the sector. The proposed investment is expected to increase production capacities with creation of new manufacturing blocks, warehouse expansion, and utility augmentation, among other factors. A senior team from the company is expected to visit the new site next month.

Rama Rao welcomed the decision of Piramal Pharma to expand their operations in the State and assured them that the government will provide necessary assistance to the group. Currently, the company employs about 1,400 people, including staff and contract workmen employed at the site, and will have around 600 additional jobs by 2023 to support the expansion at an additional revenue of Rs 500 crore. In addition, close to 300 indirect manpower are engaged with the facility on a regular basis through various service contracts.

Piramal Pharma is also keen on adding capacities through acquisitions in and around Hyderabad which will support API manufacturing, run Corporate Social Responsibility (CSR) activities in the areas of primary healthcare (Piramal Swasthya) and safe drinking water (Piramal Sarvajal) in and around Digwal village.

Piramal Pharma currently has a CGMP Active Pharmaceutical Ingredient (API) manufacturing facility in Telangana, approved by various regulatory agencies across the globe, including USFDA and EU. It comprises three units with multiple production blocks having a total reactor volume exceeding 1,000 KL. Its fully functional zero discharge facility meets all environmental norms, manufacturing close to 2,000 MT of finished goods, including leading APIs like Isoflurane, Diltiazem, Mebeverine, Ketoconazole that is exported to 60-plus countries.

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