JB Chemicals and Pharmaceuticals Ltd (JBCPL) plans to invest Rs 150 crore in its pharmaceutical Special Economic Zone (SEZ) to be set up at Gujarat Industrial Development Corporation's (GIDC) industrial estate in Panoli.
The company expects investment to the tune of Rs 2,500-3,000 crore by various pharma companies in the SEZ spread over 325 acre land. The construction work for the SEZ is likely to start from March next year.
The company has roped in Singapore based CPG consultants to develop a master plan for its SEZ. The consultant will help in creating the designs such as landscaping, utility corridor, road network and other related infrastructure. The investment of Rs 150 crore will be made to provide basic infrastructure.
Company is optimistic about the prospects for the SEZ due to its strategic locations. "Our pharma SEZ enjoys proximity to chemical hubs of the state such as Bharuch, Ankleswhar and Dahej. Export route is also easily available from the SEZ thanks to nearby port of Dajej," said Kamlesh Udani, executive director of the company. The proposed SEZ is specially meant for production of finished pharmaceutical formulations, active pharmaceutical ingredients (APIs) and their intermediates. It will also provide a platform for activities related to research and development (R&D) and contract manufacturing.
Talks are on with some pharma companies to locate their units in the SEZ. The average size of plots for single project is expected to be around 10-70 acre. The company still awaits for notification by the Centre and expects the SEZ to be notified by the end of November.
Ongoing slowdown is not likely to have any impact on the likely investment in the SEZ.