Business Daily from THE HINDU group of publications
Thursday, Jun 19, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Thursday, Jun 19, 2008 ePaper | Mobile/PDA Version | Audio |
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Corporate
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Modernisation States - Kerala KSDP being modernised Our Bureau Thiruvananthapuram, June 18 The State-owned Kerala Drugs and Pharmaceuticals Ltd (KSDP) is set to undergo a modernisation plan costing Rs 20 crore. The modernisation programme features a GMP-compliant building, tablet and capsules sections, vaccine units and allied equipment plant, apart from recapitalisation. According to an official statement, the company has come out of operating losses as a result of the new policies initiated by the Government with regard to the public sector undertakings in the State. The company recorded a turnover of Rs 9.9 crore in the last financial year. The company had been running in loss for many years and the present Government in its first budget had allocated Rs 3 crore for its revival. Consequently, the company achieved a production of Rs 14 crore, the statement said. New venturesThe modernisation programme will enable the company enter new areas, including production of IV fluids, and the Government has accepted the project report prepared by the Kerala State Industrial Development Corporation in this regard. The Government has set aside Rs. 7 crore to implement the project. Orders have also been issued for purchase of 35 items of medicines for use in government hospitals and clinics. The company would be able to make available medicines in the open market within the next five years, the statement said. More Stories on : Modernisation | PSU | Kerala
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