Monday, November 29, 1999

Indore SEZ to allocate more area to pharma companies

News posted by www.newsinfoline.com

Indore, May 17 (PTI) Indore Special Economic Zone authorities are planning to allocate more area to the pharmaceutical sector with many more companies showing interest in setting up units there, a top SEZ official said. "In view of the interest shown by a number of pharma companies in setting up their units in the Special Economic Zone, we are planning to increase the pharma-zone of the greenfield multipurpose SEZ," Development Commissioner, A K Rathore told PTI today. "There is no space left for the new companies in the pharma-zone of the SEZ, which is spread over 100 hectares out of the total 1,100 hectares multi-purpose SEZ," he said, adding that pharma majors are planning to invest about Rs 500 crore in the SEZ. At present there are 27 units working in the SEZ situated near Pithampur Industrial area in tribal Dhar district in the area of engineering, readymade garments, pharma and food processing and by the end of current financial year, the number will increase to 35. In 2009-10, Indore SEZ exported goods worth Rs 494 crore and added that if its growth rate remains as expected, exports could hit Rs 1,000 crore soon, he said.

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