IOL Chemicals and Pharmaceuticals (IOLCP) has revealed plans to invest Rs 1,400 crore in establishing a new active pharmaceutical ingredient (API) manufacturing facility at Badbar village, Barnala district in Punjab.
The company has secured environmental clearance and land for the project, which is expected to create 2,000 work opportunities. IOLCP, one of India’s top producers of APIs and specialty chemicals, is globally recognised as the largest manufacturer of Ibuprofen, a widely-used NSAID.
The company already operates an existing unit in Barnala, reinforcing its strong presence in the region. The announcement was made in the presence of IOLCP's Managing Director Varinder Gupta and Investment Promotion CEO Amit Dhaka.