ACG on Tuesday said it will invest Rs 600 crore to build Asia's largest capsules manufacturing unit near Aurangabad in Maharashtra.
The facility in the backward Marathwada region will create 1,000 jobs directly and indirectly by 2023, as per a statement. It will produce 40 billion capsules annually and will also have a research and development centre adjoining it, it said, adding that pharma and nutraceutical companies domestically and abroad will form the clients.
Officials from ACG signed a memorandum of understanding (MoU) with the Government of Maharashtra for Rs 600 crore investment in the backward Marathwada region of the state, as per the statement. The state government has accorded it the status of a 'mega project'.
“Our vision to be a future-ready solutions provider to the pharma indus $100 million (over Rs 600 crore) in this state-of-the-art plant, is an integral part of ACG's mission to double our capsule manufacturing capacity to 240 billion capsules a year,'' ACG Managing Director Karan Singh said.
(With inputs from PTI)
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