CHENNAI, FEB. 7. The Maduraibased Fine Chemicals Private Ltd., manufacturer of speciality chemicals, is breaking into bulk drug production. The company is putting up a facility to make bulk drugs and fine chemicals such as metformin HCL and allied products. These find utility in the treatment of diabetes.
According to S. Ramesh, Director, Fine Chemicals will invest around Rs. 5 crores in the new unit, coming up at the company's existing facility in Madurai. If Mr. Ramesh were to go by, the new project would go commercial by the first week of next month.
The bulk drug plant will have a capacity of 32,000 tonnes a year. The facility will conform to GMP and global standards. "We are looking at overseas tieup for selling our products abroad. We will also be a sizable player in the local market," Mr. Ramesh said. The funds for the new unit will be partly funded by internal resources and partly through loans from banks.
Headed by P. Lakshminarayanan, Fine Chemicals is a 14yearold company engaged in the manufacture of specialty chemicals used in leather, textile and coating chemical industries.