IOL Chemicals and Pharmaceuticals Ltd. updates on expansion projects.

The Board of Directors of IOL Chemicals and Pharmaceuticals Ltd. in its meeting held on 4th June 2021 has considered and approved expansion project.

The board approved the enhancement of the manufacturing capacity of Ethyl Acetate from 87,000 MT per annum to 100,000 MT per annum, by de-bottlenecking and re-engineering of existing plant, at aggregate capex of Rs.0.25 crore, funded through internal accruals only.

The company noted successfully setting up new manufacturing facilities ('Unit-VIII') to manufacture Ibuprofen derivatives and other Pharma (APIs) products, with a capex of Rs. 21.26 Crore, which has been funded through internal accruals only.

The board also took note of setting up of 2 new manufacturing facilities 'Unit IX' for manufacturing Gabapentin with a capacity of 612 MT per annum with capex of Rs. 60.82 crore and other Pharma (APIs) products; and 'Unit X' for manufacturing Multiple Pharma (APIs) products, with an aggregate capex of about Rs. 90 Crore. The installation for these 2 units are running as per schedule and the full capex will met through internal accruals.

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