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Divis Laboratories to invest Rs 300 cr in expansion plans in 2018

Friday, 02 Feb 2018
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Divis Laboratories will make an investment of Rs 300 crore in the expansion programme in 2018.

The company has spent around Rs 400 crore till December 2017 and is expanding the capacities of its existing plants. It has proposed to set up a plant at Kakinada in Andhra Pradesh.

The state government allotted 505 acre at Ontimamidi village in Thondangi mandal, East Godavari district, and gave the company advance possession of the land, pending procedural formalities.

The company spent Rs 34.35 crore towards the cost of land and minor civil work at the site in 2017. However, the project ran into trouble as several farmers whose land had been acquired or resumed by the government moved the High Court either contesting the acquisition or seeking higher compensation.

Once the issue is resolved by the state government, the company will undertake work on the project.

 

 
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