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Aug 29, 2012, 10.02 PM IST
Pharmaceutical firm Teva API India plans to invest about Rs 1,000 crore over the next five years in setting up of a formulation unit in the Indore special economic zone (SEZ), an official said today.
"Teva API is planning to invest about Rs 1,000 crore over the period of five years. It would create jobs fro about 500 people," Madhya Pradesh State Industrial Development Corporation (MPSIDC) Executive Director Sanjay Dubey told PTI. Madhya Pradesh State Industrial Development Corporation is responsible for the development of the SEZ. The pharma firm is the Indian arm of Israel-based Teva API. He said that Development Commissioner of Indore SEZ A K Rathore has already given green signal for the investment. Dubey said the company will set up its units at 70 acre of land.
A total of 35 units from sectors like engineering, pharmaceutical, textiles and food processing are already operational in the zone. Construction of another 8 units are in the progress.
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