Dishman Pharma to develop two SEZs

Ahmedabad: Bulk drugs and contract manufacturing major Dishman Pharmaceuticals and Chemicals (DPCL) will invest Rs 500 crore in the next two years on developing two Special Economic Zones (SEZs) near here for pharmaceutical and chemicals and engineering goods, respectively, Mr Janmejay R. Vyas, Managing Director, has said.

Addressing a press conference here, he said this investment would be in its first phase and the group intends to bring some of the industrial units in the SEZs with investments of about Rs 7,500 crore generating total direct employment for about 50,000 persons. DPCL is also investing an additional Rs 100 crore on setting up an R&D centre at its pharma SEZ.

For this purpose, DPCL’s wholly-owned subsidiary Dishman Infrastructure Ltd (DIL), created for sector-specific SEZs, has acquired 390 acres for its pharma SEZ.

It will acquire 460 acres for the engineering SEZ . About 35 per cent of the land in the two SEZs has been committed by different companies, he said, adding work on both the SEZs would begin by the end of current fiscal.

The estimated investment of Rs 396 crore in the pharma SEZ would be financed with 30 per cent equity worth Rs 120 crore, internal accruals to the tune of Rs 99 crore and rupee term loans of Rs 177 crore.

DIL has tied up with agencies for project execution. The company is set to kick-start marketing campaign .