Dishman Pharmaceuticals Completes Acquisition Of Land For SEZ

Dishman Pharmaceuticals, India's leading pharmaceutical company has informed that it has completed acquisition of land for its Pharmaceutical and Chemical SEZ, near Bavla in Gujarat.

The company has acquired total area of 390 acres for its pharmaceutical and chemical SEZ. The company plans to invest Rs 500 crore in two special economic zones.

Dishman Pharmaceuticals has appointed 'Multimedia Consultants' as their consultant for both the SEZs for planning and engineering activities. The company expects to begin work on both the SEZs by last quarter of this year.

In a separate release, the company said that it is venturing into manufacturing and marketing of disinfectant and sensitization products in India, Saudi Arabia and Australia.

The company will make formulated products for hospitals, domestic use and industrial disinfection.

Dishman plans to enter Australian market, through its Australian subsidiary while in Saudi Arabia it will start operation under the JV called Dishman Arabia Limited.

During intraday trading, the shares of Dishman Pharmaceuticals & Chemicals surged nearly 10% after the announcement, but at last it ended the day at Rs 308, up 4% compared to its previous close.

SOURCE: Dishman Pharmaceuticals