Neuland Laboratories’ Board has approved capital expenditure (capex) of Rs 126 crore towards the purchase of around 134 acres of land situated at Auro Industrial City, Kakinada, Andhra Pradesh, including other related expenditure.
The company also has a right of first refusal to purchase an additional contiguous land parcel of around 66 acres at a later date, taking the potential aggregate land parcel at the said location to around 200 acres. The capital expenditure will be funded through internal accruals.
Neuland Laboratories is a leading manufacturer of active pharmaceutical ingredients (APIs) and an end-to-end solution provider for the pharmaceutical industry’s chemistry needs.
