Hikal Ltd will invest ₹500 crore in its existing fine chemical plant at Panoli, Gujarat, covering all three of its business verticals— pharma, crop protection, and animal health.

Hikal and the Gujarat government signed a Memorandum of Understanding (MoU) to this effect as part of the Vibrant Gujarat Global Summit 2024 investment initiative, the company said. The investment is expected to create employment opportunities of about 400 jobs, it added. On the Government’s part, it would facilitate the necessary permissions, registrations, approvals, and clearances from the concerned departments of the State, the note said.