Laurus Labs has secured allotment of 531.77 acres of land in IP Rambilli Phase-II, Anakapalli district from Andhra Pradesh government.
The allotment marks a significant milestone for Laurus Labs, which plans to develop the Laurus Pharma Zone (LPZ), a large-scale pharmaceutical manufacturing hub. The company has announced plans to invest Rs 5,630 crore over the next eight years in three phases to set up multiple manufacturing units at the site.
This strategic investment is expected to create employment for approx. 6,350 people and enhance the company's long-term manufacturing capabilities. “This land allotment provides Laurus Labs with a key asset to support its long-term expansion plans in pharmaceutical manufacturing,” the company noted.