According to the Goodreturns, the joint-venture will provide high value active pharmaceutical ingredients (APIs) and intermediates to pharmaceutical companies.
The construction of the facility will start by November 2011 and is expected to be completed by late 2012.
The facility, which will have CAPEX of over $20m, is expected to start production by January 2013 and the commercialization of the plant may begin in 2015, the company said.
Granules India managing director Krishna Prasad said that Granules-Omnichem will offer a diversified contract manufacturing platform for its existing and future customers.