JB Chem to set up SEZ in Gujarat

Our Bureau

Mumbai , Jan. 17

JB Chemicals and Pharmaceuticals Ltd plans to invest Rs 115 crore in a
pharmaceutical sector-specific special economic zone. It signed a
memorandum of understanding with the Government of Gujarat, for the
development and construction of the 325-acre SEZ at Panoli in Gujarat.

JBCPL plans to set up the SEZ to manufacture pharmaceutical finished
formulations, Active Pharmaceutical Ingredients and their intermediates,
as well as operate service activities related to research and
development and contract manufacturing.

Construction of this SEZ is expected to be completed by 2009. "We have
had a close relationship and association with Gujarat for many years and
we are looking forward to this SEZ being a tremendous benefit and boost
to the economy of Gujarat," said Mr Kamlesh Udani, Executive Director,
JBCPL.

The processing area of the SEZ will house 10-15 industrial units of both
Indian and international companies from the pharmaceutical sector, in
addition to JBCPL's own units.

Mr JB Mody, CMD, J B Chemicals & Pharmaceuticals Ltd., said, "We are
totally committed to the development of the pharmaceutical industry in
our country and particularly Gujarat. India is very much noticed in the
international pharma market and the SEZ will help us to be more
competitive."

Shares of the company rose 1.65 per cent to close at Rs 101.90 on BSE.

http://www.thehindubusinessline.com/2007/01/18/stories/2007011804941100.htm