Nicholas Piramal has drawn
plans to set up a new manufacturing unit in Baddi, in Himachal Pradesh with an
investment of Rs.150 crore.
The project would be
implemented in two phases. In first phase which would entail an investment of
Rs.70 crore, the company would manufacture tablets and liquids across
theraupetic areas. Subsequently, work on the second phase will commence
which would be for the production of injectables and this would be done with an
investment of another Rs.70 crore. The funds
for the project would be sourced through internal accruals.
The company is planning to
appoint foreign consultants for the project.
It may be noted that NPIL
already operates two plants in Hyderabad and Pithampura in Central India.