Updated on 31 July 2013
Indian pharma major Cadila will buy a land in Russia with basic infrastructure and has been offered five areas for realization of their investment plans
Singapore: Indian pharmaceutical major, Cadila Pharmaceutical is getting closer to constructing a modern manufacturing facility in the Russian region. The company, which is headquartered in India's western city of Ahmedabad, is planning to build a pharmaceutical manufacturing plant in Russia's Astrakhan region. The company will be buying the 20 hectares land and will invest $150 million in the plant.
Cadila will buy the land with basic infrastructure and was offered five areas for realization of their investment plans. A delegation from India had visited three of them, including the chosen site in the Narimanovsky district.
Astrakhan Governor Mr Alexander Zhilkin, who recently met Cadila chairman and MD, Mr Rajiv Modi, said that, "We are interested in your business, above all because of its social and humanitarian dimensions that are aimed at providing medical treatment to people."
"We showcased our production facility, as well as our achievements in establishing new plants and expanding markets for our medicines. It's good to know that our company's intention to enter the Russian pharmaceuticals market has met with support here in the Astrakhan Region," Mr Modi said.
Work on the new production plant started immediately after the Astrakhan Region delegation's visit to India. A delegation from Cadila came to Astrakhan in February to study the matter in detail. A project road map has been developed and a joint task force formed.