Amaravati, Dec 15 (PTI) Orvakal in Kurnool district is emerging as a pharmaceutical hub, said Andhra Pradesh government on Monday, citing the investments of two Hyderabad-based companies, Virupaksha Organics
Ltd and Sigachi Industries Ltd, in Orvakal.
"Andhra Pradesh is rapidly strengthening its position as a preferred destination for pharmaceutical manufacturing, with Hyderabad-based Virupaksha Organics Limited and Sigachi Industries Limited expanding their operations in Orvakal, Kurnool district," said an official press release.
Virupaksha Organics received approval for allotment of over 100 acres in the IP Guttapadu Cluster at the Orvakal Node for establishing a manufacturing facility of Active Pharmaceutical Ingredients (APIs) and organic chemicals.
It involves an investment of Rs 1,225 crore and has the potential to create around 1,500 direct jobs, besides substantial indirect employment across logistics, utilities and ancillary services, said the release.
Likewise, Sigachi Industries Limited is a leading manufacturer of pharmaceutical excipients, particularly microcrystalline cellulose (MCC), which have applications across pharmaceuticals, food and nutraceuticals.
The expansion plans of Virupaksha Organics and Sigachi Industries were formalised through deals signed recently at the CII Partnership Summit in Vizag.
With pharmaceutical and allied manufacturing projects now converging at Orvakal, Kurnool district is emerging as a pharmaceutical manufacturing destination in South India, the press release added. PTI STH ADB
