On Friday, May 05, Chief Minister MK Stalin laid the foundation stone to establish a pharmaceutical park in Tindivanam, Villupuram district. Forty drug manufacturers are expected to establish units at the 111-acre SIPCOT Park, which has been established with a capital outlay of INR 155 crore.
The park will include common facilities such as a testing lab, a drug warehouse, and a water treatment plant. The state government has provided INR 51.56 crore, while the union government has contributed INR 20 crore towards the establishment of the park.
Common infrastructure, including R&D facility, will incentivize medium-scale pharmaceutical companies. The infrastructure is scheduled to be ready by December, and the R&D facility and small-scale manufacturing are expected to commence by June 2024 at the park, which has been established in partnership with the Indian Drug Manufacturers Association.
Biltrax Construction Data is tracking 24,000+ projects on their technology platform for their clients.
Get exclusive access to upcoming projects in India with actionable insights and gain a competitive advantage for your products in the Indian Construction Market.
Visit www.biltrax.com or email us at contact@biltrax.com to become a subscriber and generate leads.
Disclaimer: The information contained herein has been compiled or arrived at, based upon information obtained in good faith from sources believed to be reliable. All such information and opinions can be subject to change. The image featured in this article is for representation purposes only and does not in any way represent the project. If you wish the article to be removed or edited, please email editor@biltrax.com.
0
