Consumer health products company Ascent Meditech has planned to make an investment of Rs 100 crore in a greenfield manufacturing plant in South Gujarat. The plant spread over 12 acre of land is proposed to become operational in mid May 2020.
After the commissioning of the plant, the manufacturing capacity of Ascent Meditech will increase from 40,000 to 140,000 units per day. Currently, Ascent Meditech operates five manufacturing units at Silvassa in the Union Territory of Dadra and Nagar Haveli with installed capacity of 40,000 units a day.
The company is investing in augmenting its manufacturing capacity, and also towards integrating modern technology in the products. The upcoming facility, to be completed in two phases, will span a million sq ft, and be compliant with USFDA regulation, apart from housing its R&D and design studio as well.
Meanwhile, the company is also looking at raising money from the capital market in the next two-three years to fund its future expansion plans. Besides, the company is also increasing its retail footprint across India from the current network of 1,500 distributors, 300 super stockists and 200,000 outlets, including medical stores.