Simpex Pharma to set up new unit in Uttarakhand

The company has been allotted 4 acre at Kotdwar for its proposed facility, where it will mainly manufacture capsules and tablets.

Export-oriented company Simpex Pharma Limited, which currently is into loan licensing business, proposes to set up its first manufacturing unit at the Kotdwar growth centre in Uttarakhand with an investment of about Rs 35 crore, said chief executive officer BN Chopra.

The company, headquartered at New Delhi, has been allotted nearly 4 acre at Kotdwar for its proposed facility, where it will mainly manufacture capsules and tablets. The company will export most of its products to the US and Russia, among others. Production at the new unit is expected to start within three to four months.

“We are expanding our business with an aim to export our products,” Chopra told Business Standard.

Only three to four companies including Wipro and Reliance Pharma have commenced production at Kotdwar so far as civil infrastructure has not yet taken shape. Moreover, companies are hesitating to start production here due the meltdown.

So far, nearly 38 companies took possession of plots allotted to them at the Kotdwar growth centre, which is being developed by the State Industrial and Infrastructure Development Corporation of Uttarakhand Limited (SIDCUL), a state government enterprise.

Nearly 28 acre of land is still available at Kotdwar, an official here said, adding the SIDCUL had initiated various measures to improve infrastructure in the area.