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1 minute read

Hikal to invest Rs. 500-crore in Panoli plant

Hikal Ltd. and the Government of Gujarat have entered into a Memorandum of Understanding (MoU) as part of the investment initiative associated with the Vibrant Gujarat Global Summit 2024.

According to the MoU, Hikal will inject Rs. 500-crore into the existing fine chemical plant located at Panoli, Gujarat. The plant is the only Hikal site that encompasses all three business verticals – Pharma, Crop Protection, and Animal Health.

As per the MoU, in reciprocation, the Government of Gujarat has committed to assisting Hikal in obtaining the necessary permissions, registrations, approvals, and clearances from relevant State departments. The investment is expected to create employment opportunities for about 400 people.

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