New Delhi-based Jivika Ayursciences plans to set up a manufacturing facility for ayurvedic medicines and supplements near Hyderabad with an investment of ₹120 crore.
“We should be operational in seven months from now,” CEO L.Mani Varghese said on the likely time-frame for commissioning of the plant. Genome Valley, near Hyderabad, is where the facility is proposed to come on about 3.5 acres to be allotted by the State government.
Besides the manufacturing facility, which is to be developed over three phases, the company intends to have plantation to grow organic herbs in Telangana. About 200 acres are required for the purpose, he said, adding sourcing the requirement through contract farming is also an option under consideration.
Jivika Ayursciences, whose existing manufacturing facility is in Karnal, Haryana, plans to launch its first set of 30 ayurvedic healthcare products in the country by October, he said in an interaction on Monday. The company in a release said the proposed plant would have production facilities for Ayurvedic medicines, herbal supplements and herbal extracts.