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news.Dishman Pharmaceuticals & Chemicals, a contract manufacturing company based in India, plans to raise INR750m by selling non-convertible bonds, to establish new API manufacturing units.
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According to JR Vyas, managing director of the company, the planned finances would help fund the manufacturing facilities. The four new proposed plants, scheduled to open 15 months after construction starts, will be located near current facilities in Ahmedabad.
Mr Vyas said that the company is now in talks with a few multinationals for possible supply agreements. The new plants will increase its drug production capacity by 400 cubic metres. The expansion work has already begun at the company’s existing site in Bavla, Gujarat. Dishman anticipates the new plants to be completely operational by March 2011.
Dishman plans to invest INR500-600 crore in the coming five years in the Pharmaceuticals & Chemicals Special Economic Zone (SEZ) of Dishman Infrastructure (DIL), and is also investing INR150 crore to enhance its Bavla contract manufacturing facility by 1000sqmt, from 4300sqmt floor space.