The Punjab-based company, IOL Chemicals and Pharmaceuticals has announced that it is going to make a huge investment of Rs. 300 crore in its proposed expansion plan during the next year. Making the announcement on Saturday, the company officials have stated that this investment is being made in accordance with the companys expected turnover of Rs 800 crore by the financial year of 2010-11.
Informing that the company has already acquired a large area of 65 acres of land for its backward and forward integration project, one of the top officials of the company has stated that IOL is also planning to enter into a new segment of proton pump inhibitors. The official said that the company would enter the segment by undertaking the implementation of project to manufacture an anti-ulcer drug, named Rabiprazole, and its derivatives.
While talking about the matter, the Chairman and Managing Director of IOL Chemicals, Mr. Varinder Gupta said, "As the Rabiprazole is going off-patent, we are entering into this new segment and by investing Rs 300 crore to achieve a turnover of Rs 800 crore in the year 2010-11". HE further informed that the company has also given proposals for constructing another captive power generation plant of 13 MW in addition to its existing 4 MW plant in the next year.
|
|
|
|
|
| Posted : 3/17/2008 |
|
| Browse through Product Directory of JimTrade.com which offers an exhaustive data on Products of Services where as Suppliers Directory of JimTrade.com provides a detailed information on Suppliers of Services |
|
|
|
