ACG Associated Capsules president and CEO S M J Noronha was quoted by Express Pharma as saying that the construction work of the phase I is almost ready.
”We are investing Rs 400 crore and targeting to touch a turnover of Rs 400 crore from this facility itself in the next three years," Noronha added.
ACG will install 24 new high speed capsule filling machines as well as three to four machines for the phase I.
The company, which produces 5 million capsules per day is planning to recruit 160 and 120 people for phase I and phase II respectively.
The new plant is expected to make a turnover of Rs4bn ($71m) by 2015.
The phase I and phase II productions are expected to commence from July 2013 and May – June 2014 respectively.