Jammu, Jan 15 (NVI) Pharma company Innova Captab Limited has commenced commercial production at its state-of-the-art manufacturing facility in Kathua district of Jammu, the firm announced.
The facility comprises four dedicated manufacturing blocks including General, Cephalosporin, Penicillin and Penum with a capability to manufacture a diverse range of products in oral solid dosages, dry powder injectables, dry syrup, BFS, large volume parenterals and respiratory respule products, it said.
With this expansion, the company, at a consolidated level, have total five manufacturing facilities with nine independent manufacturing blocks.
Commenting on the recent development, the company’s Managing Director Vinay Lohariwala said, “This marks a significant milestone in our growth journey, enhancing both our production capacity and product basket. This will also enhance our ability to meet the evolving needs of our customers.”
He said the expansion is a strategic step in line with the company’s long-term vision to strengthen its market position and fuel sustainable growth.
The facility has been established with a total capital outlay of more than Rs 450 crore and with the start of commercial production, the company is poised to benefit from the Central Government’s ‘New Central Sector Scheme’, for Capital Interest Subvention of 6% per annum and GST-linked incentive of 300% of investment made in plant and machinery in 10 years. (NVI)
