Vivimed Labs to operate SEZ in Andhra Pradesh

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Hyderabad-based Vivimed Labs, has got a nod from the government to establish a SEZ (Special Economic Zone) specific to chemicals and pharmaceuticals at Srikakulam district in Andhra Pradesh .
The Union Ministry of Commerce and Industry has granted the pharmaceutical company with an ‘in-principal’ approval to develop, maintain and operate in an area of 131.68 hectares dedicated to research and development.
In a filing to Bombay Stock Exchange, the company said its board has decided to raise funds up to $25 million (nearly Rs110 crore) inclusive of premium through various schemes.

Posted on: 13.10.2010

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