Pharma Major Cipla Plans Investing Rs 500 Crore in Telangana

 

By V V Balakrishna

Published: 18th February 2016 04:54 AM

Last Updated: 19th February 2016 08:58 AM

 

HYDERABAD: Telangana state spotted a niche in the Make in India market in Mumbai. Several investors evinced keen interest to invest in the state.

One among them is Cipla, a top pharmaceutical company, which offered to invest Rs 500 crore in Telangana. Three more firms, Vian Mobiles, Neelkamal plastics and a textile firm in Nodia too expressed interest to expand their business in Telangana.

‘‘We will ask Cipla to invest in the proposed Pharma City. Cipla offered to invest Rs 500 crore,” sources in the industries department told Express on Wednesday.

Recently, Ferring Pharmaceuticals which has a global presence as a manufacturing and R&D centre represented by its chairman  Frederik Paulsen and CMD, India Dr Ashok Alate called on chief minister K Chandrasekhar Rao with an investment proposal of $100-250 million.

Meanwhile, Vian Mobiles too is likely to start their manufacturing unit like Celkon and Micromax in the state. The state government will allot land to Vian Mobiles in the Fab City.

“The representatives of Vian will soon come to the state and after inspecting the lands, they will announce the quantum of investments,” sources said.

The location of Neelkamal is to be finalised after they visit the state.  Neelkamal has no other manufacturing unit outside Mumbai. TS unit will be the first plant outside Mumbai, if the plan materialises, sources said.

A Noida-based textile firm will set up their shop in the proposed Textiles Park in Warangal. On the last day of Make In India week event in Mumbai on Thursday, the first hour between 11 am 12 noon has been declared as Telangana Day.

Industries minister Jupally Krishna Rao and industries secretary Arvind Kumar will participate in Telangana Day.

Sources said AP government put up their stall in the Make In India week with Rs 20 crore, but TS government put up a small stall with an investment of Rs 20 lakh.

However, investors evinced more interest in Telangana, sources claimed.