Moneycontrol's Shraddha Sharma chats with Viswanath Pilla to find out more about the government's plans to revive the Rs 600-crore Integrated Vaccine Complex at Chengalpattu, Tamil Nadu.
The Integrated Vaccine Complex (IVC) was set up by HLL Biotech (HBL), a 100 percent subsidiary of public sector undertaking (PSU) HLL Life Care, to produce vaccines for the National Immunization Programme. Conceived during the days of the UPA-I government under then health minister Anbumani Ramadoss in 2008, the project was aimed at making India self-sufficient in vaccines. However, it has been struggling to pay salaries to staff, interest to lenders and clear vendor dues.The government may now be considering bringing in a strategic partner to revive the Rs 600-crore IVC at Chengalpattu, Tamil Nadu, that’s struggling with a cash crunch and non-viability issues. Moneycontrol's Shraddha Sharma chats with Viswanath Pilla to find out more.LIVE NOW... Video series on How to Double Your Monthly Income... where Rahul Shah, Ex-Swiss Investment Banker and one of India's leading experts on wealth building, reveals his secret strategies for the first time ever. Register here to watch it for FREE.