India News | Setting Up of Bulk Drug Pharma Park Will Ensure Retention of Pharma Units in Himachal: CM Thakur

Shimla (Himachal Pradesh) [India]SEPTEMBER 22 (ANI): Prime Minister Jai Ram Thakur visited Union Minister of Health and Family Welfare, Chemicals and Fertilizers Mansukh Mandaviya in New Delhi on Wednesday and thanked the Union Minister for allocating the Bulk Drug Pharma Park to Himachal Pradesh.

He said Prime Minister Narendra Modi has always prioritized the state’s development needs, adding that the Bulk Drug Pharma Park will ensure the preservation of the pharmaceutical formulation units in the state, along with creating long-term local employment opportunities.

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The Union Minister assured the Prime Minister every conceivable support for the state in order to quickly complete all the formalities for setting up the Bulk Drug Pharma Park.

The Union Cabinet approved the Mass Drug Park Plan on March 21, 2020, and guidelines were subsequently issued on July 21, 2020, mandating evaluation criteria for submission of the proposal.

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Under the regulations, the Government of India’s Department of Pharmaceuticals (DoP) had to cover 90 per cent of the project costs up to a maximum of Rs 1000 crore. The state government started searching for the necessary land during the Corona period and finally settled on a 1,405 hectare land near Polian, Tibbin, Malluwal Tehsil Haroli, Una district.

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He explained that the expected investment in the park is between Rs 8,000 and 10,000, with an estimated project cost of Rs 1,200, of which the central government will fund the development of common infrastructure facilities at Rs 1,000.

Around 15,000 to 20,000 people are expected to be directly employed. The power required is between 100 and 120 MW.

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In fact, there are over 600 pharmaceutical formulation plants in Himachal Pradesh and the state’s annual bulk drug requirement ranges from 30,000 to 35,000 crores.

Now that the statewide bulk drug demand would be inexpensively met from this park, it would increase the output and operational efficiencies of the pharmaceutical formulation facilities. (ANI)

(This is an unedited and auto-generated story from the Syndicated News feed, LatestLY staff may not have modified or edited the content.)

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