The JV company signed a 'letter of offer' agreement with Kulim Hi Tech Park (KHTP), a wholly owned state agency and industrial park that houses various other leading industries located at Kulim, Ranbaxy Laboratories said.
      
Ranbaxy Laboratories holds a 71 percent stake in the joint venture RMSB. The facility will be built on an area of around 15 acres with an investment of around USD 35 million (over Rs 200
crore) providing employment to over 200 people.
     
Commenting on the development, RMSB Managing Director T Jeyabalan Thangarajah said, "In addition to serving the local market, the new facility will also export products to the ASEAN markets, Middle East, Europe, Sri Lanka, China and other select nations."
     
The new facility would manufacture dosage forms including tablets and capsules primarily in the Cardiovascular, Anti-Diabetic, Anti-infective and Gastrointestinal segments, Ranbaxy said.
     
"Ranbaxy's total output in Malaysia will be increased from 1billion doses/annum to 3 billion doses/annum when the new facility will be fully operational," it added. This will be Ranbaxy's second manufacturing plant in Malaysia. The first RMSB manufacturing facility in Sungai Petani in Malaysia was commissioned in 1987.

(Agencies)

Latest News  from Business News Desk