Financial Daily from THE HINDU group of publications
Friday, Feb 27, 2004
Financial Daily from THE HINDU group of publications Friday, Feb 27, 2004 |
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Corporate
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New Projects Sigma Aldrich plans $8-m unit in Hyderabad Our Bureau
Hyderabad , Feb. 26 SIGMA Aldrich Corporation, the US-based $1.2-billion life science and high-technology company, proposes to set up a laboratory scale production complex in Hyderabad. The US major is into biochemical and organic chemical products and kits that are used in scientific and genomic research, biotechnology, pharmaceutical development, the diagnosis of disease and chemical manufacturing. The proposed facility at Hyderabad is to come up at the ICICI Knowledge Park and involves an investment of $8-million, the Sigma Aldrich President, Mr Jai Nagarkatti, announced at the global bio business forum - BioAsia - here on Thursday. According to him, the facility would eventually house around 80 new chemists doing contract research, process development and small-scale custom synthesis work. The facility, which would largely cater to the needs of pharmaceutical customers, would be constructed within the company's previously announced capital budget of $88 million for 2004. Mr Nagarkatti said the Hyderabad facility would serve as a `feeder site' for the company's larger scale production operations in Germany, Switzerland, the UK and the US. Stating that the company was currently in talks with construction management consultants for setting up of the Hyderabad facility, he told Business Line that the facility would take off by the second quarter of next year.
More Stories on : New Projects | Bio-tech & Genetics | Pharmaceuticals
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