Coral Lab's Uttaranchal unit by next year
Mumbai-based Coral Laboratories Ltd is to set up a new
formulation plant in Uttaranchal at an estimated cost of Rs 28 crore. The
company has acquired 80,000 sq. ft of land in Pharma City, Selaqui, Dehradhun,
for its project.
The entire project is divided into three parts. Project No.1 has already
commenced manufacturing of general liquid and ointments whereas tablets and
capsules production will start by the end of this month. 'Betalactum' under
Project No.2 will be manufactured by the end of December 2006. Project No.3 for
'injectables' will commence production by June 2007.
The project is funded through internal accruals of Rs 5 crore and a term loan of
Rs 3 crore from Bank of Baroda; for the balance Rs 17 crore, CLL is looking at
various equity options such as rights issue, public offer or private placement.
Contact: Coral Laboratories Ltd, 503, Dalamal House, 5th Floor, Jamnalal
Bajaj Road, Nariman Point, Mumbai, Maharashtra 400021. Tel: 022-22873635 &
[14 August 2006]