Employment opportunities for 2000 people
Punjab E News (Pawan Dhupar): Aiming to transform Punjab into a vibrant, healthy and future ready state under the dynamic leadership of National Convener Sh. Arvind Kejriwal and Chief Minister Punjab S.Bhagwant Singh Mann, Cabinet Minister Sh. Sanjeev Arora informed that IOL Chemicals & Pharmaceuticals Ltd. whose turnover Rs 2300 crore on annual basis is going to invest Rs. 1,400 Crore in Punjab. Company has planned to establish a new Active Pharmaceutical Ingredient (API) manufacturing facility in village Badbar, District Barnala. It will lead to generate employment opportunities for 2,000 Punjabis.
Addressing the Media, he added that environmental clearance has been obtained for the project and land is under the possession of the company. IOL Chemicals & Pharmaceuticals Ltd. is one of India’s leading manufacturers of Active Pharmaceutical Ingredients (APIs) and specialty chemicals. The company is also the world’s largest manufacturer of Ibuprofen, a widely used non-steroidal anti-inflammatory drug (NSAID) for the treatment of pain, fever, and inflammation.
Highlighting further, he stated that the company already operates a manufacturing unit at Fatehgarh Channa, Barnala. Pertinently, the company’s investment in Punjab will reach Rs 2533 crore and a total of 3100 people are working in their units.
The proposed 1,400 crore greenfield project at Badbar, Barnala represents a major step in expanding IOL’s API production capacity and reinforces Punjab’s position as an emerging hub for the pharmaceutical and chemical industries, he said.
According to Arora the total investment into Punjab since AAP government have came, it brought employment to 5 Lakh people with an investment of Rs.1.30 Lakh Crore.
Managing Director of IOL Chemicals & Pharmaceuticals Ltd Sh.Varinder Gupta and Amit Dhaka CEO Invest Promotion were also present and addressed questions from the Press.
