Companies

IDPL to get Rs 900 cr for revival

G Naga Sridhar Hyderabad | Updated on March 27, 2015 Published on March 27, 2015


The much-awaited revival of Indian Drugs and Pharmaceuticals Ltd (IDPL) can be a reality soon as the Government of India will be sanctioning Rs 900 crore revival package.

This was announced by the Union Minister of State for Chemicals & Fertilisers, Hansraj Gangaram here on on Friday.

“By this July, IDPL will start making formulations,” the Minister said indicating that about 50 per cent of this fund would be invested in its Balanagar facility here while the rest would be used for the Gurgaon and Rishikesh plants of the company. IDPL has strong infrastructure in Hyderabad with about one lakh square feet office space.

The Government was also working on Rs 5,000-crore revival plan for the fertiliser factory in Godavarikhani near Ramagundam, he added.

Published on March 27, 2015
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