Divi's Lab earmarks Rs 1,500 crore to set up manufacturing facility in Andhra Pradesh

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Drug maker Divi''s Laboratories on Tuesday said it has earmarked Rs 1,500 crore to set up a new manufacturing facility in Andhra Pradesh.

The work on the manufacturing plant would commence from December 7, Divi''s Laboratories said in a regulatory filing.

The Unit-III facility will come up in the East Godavari District, Andhra Pradesh, it added.

The company will be investing about Rs 1,500 crore out of its internal accruals in a phased manner for the implementation of the plant, the drugmaker said.

The operations are likely to commence within 12 to 18 months for the first phase of the project, it added.

All the requisite licenses have been granted by the central and Andhra Pradesh government for implementation of the project, the company said.