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Andhra Pradesh
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Hyderabad
DRL to invest $200 million in SEZs
HYDERABAD: Dr. Reddy’s Laboratories Limited, an emerging global pharmaceutical company, has decided to invest close of $200 million for the development of the two special economic zones sanctioned to it in the State.
Land acquisition
The company has completed the land acquisition process for the two special economic zones – one specialising in active pharmaceutical ingredients at Srikakulam and the other focussing on finished dosage formulation at Sadashivpet in Medak district.
The company has earmarked $100 million on capital expenditure during the current year.
DRL chief executive officer G.V. Prasad said work on the development of the special economic zoneswould start shortly and the company was finalising the pattern of investments that would be made into them.
The special economic zones, with requirement of about $150 to 200 million, would be operational in 24 months and the real growth in returns could be expected later.
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