Syngene lines up $200 m capex for expansion.

Syngene International, the contract research arm of biotechnology major Biocon, is looking to invest $200 million (over ₹1,370 crore) over the next two years to expand capacity and upgrade manufacturing facilities.

'Capex of $200 million (is) envisaged over FY16 to FY18,' Syngene International said in a investor presentation.

The capex would be used towards capacity expansions, capability additions and technology upgradation, it added.

The investment areas for the capital expenditure are research centre, formulation centre, manufacturing facilities and expansion of new capabilities, Syngene International said.

The company said it will tap a mixture of its own resources and debt to raise funds for future growth.

'Future funding requirements to be met through internal accruals & debt,' Syngene said.

HBL