Himachal inks Rs 500 crore pact with Concord Biotech

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Shimla : A Memorandum of Understanding (MoU) was today signed between the the Himachal Pradesh governmeng and Concord Biotech for setting up of a Rs 500 crore API based fermentation manufacturing plant in Una district.

The project will be setup with a total investment of Rs 500 crores over three phases in and around upcoming API Park in Una and will provide employment to 1000 persons. It will have export potential of around 60-65 percent.

The unit will be operational in two years and provide impetus to the socio-economic growth in the region. The government has committed full support to the company for obtaining necessary permissions and approvals.

Director Industries Rakesh Kumar Prajapati signed the MoU on behalf of the state government while Chairman and Managing Director of Concord Biotech Sudhir Vaid signed the MoU on behalf of the Company.

Concord Biotech is India’s leading integrated biotechnology company manufacturing high quality fermentation-based niche bio-pharma APIs focused on immunosuppressant, oncology, anti-infective (antibacterial and antifungal), enzymes.It claims to be one of the largest suppliers of immunosuppressant APIs in the world and the only Indian company offering over 20 Fermentation based API and is also having substantial exports.