Solara Active Pharma Sciences to build drug unit
03 December 2018
Solara Active Pharma Sciences is planning to build a drug manufacturing unit in Visakhapatnam, Andhra Pradesh. In October, the Andhra Pradesh Industrial Infrastructure Corporation (APIIC) allotted land for the project.
The unit will occupy 68,799 sq mtr of land. With an expected investment outlay of Rs. 736 crore, the project will be implemented in two phases. Phase-I will entail an investment of Rs. 586 crore and Phase-II will be developed with Rs. 150 crore respectively.
The recent updates gathered by Projects Today disclose that Solara Active Pharma Sciences was awaiting necessary clearances for the project. Once these clearances are in place, the company plans to commence work by February 2019. The drug unit is expected to generate employment for 580 persons.