Companies

Aurobindo Pharma to invest Rs 1,500 cr in Andhra Pradesh

G Naga Sridhar Hyderabad | Updated on May 29, 2020

Aurobindo Pharma Ltd will invest ₹1,500 crore to ₹2,000 crore in Andhra Pradesh over next three years.

This was announced by Madan Mohan Reddy, Director, Board of Aurobindo Pharma in Amaravati, in a meeting chaired by Chief Minister YS Jagan Mohan Reddy on industrial development in the State.

Aurobindo has already invested ₹3,000 cores in the State, and has created employment to 10,000 persons, he said.

According to Reddy, there was no power shortage in the State, which will be an advantage for the company. “We need skilled labour and if skill development is part of the curriculum from Intermediate onward, that would be helpful,” he said.

The Board of Directors of the ₹12,258 crore company will meet on June 3 to consider and approve the its audited financial results for the fourth quarter and the year ended March 31, 2020.

Published on May 29, 2020

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