Shimla-21 January, 2022-Chief Minister Jai Ram Thakur said here today that a MoU has been signed between Government of Himachal Pradesh and M/s JAGS Pharma Pvt. Ltd. for setting up Pharma Park consisting of API and Capsule shell manufacturing and formulation and allied activities with proposed investment of around 750 crore which would generate direct employment opportunities to more than 1000 people. The MoU was signed by the Director Industries Rakesh Prajapati on behalf of the government of Himachal Pradesh.

Chief Minister has welcomed this project in the state as it would generate employment opportunities to local youths. He apprised that government has already submitted competitive proposal of API park to Government of India. He also said that we are hopeful in getting API park. He directed the officials to extend guidance and full cooperation to investors.

He said that the land requirement for this Pharma park was around 20 -30 acres. It is also worth to mention that 8-10 ancillary units were also expected to come along with the project.

He said that the Promoters were already running various pharmaceutical formulation and allied industry in Himachal from last 20 years.

He said that estimated API capacity of this park would be 4000 tonnes of different molecules which includes pain killers, antibiotics, anti diabetics, cardio vascular etc. and would be a big boon to the local formulation industry.

He said that government of Himachal Pradesh has already submitted highly competitive bid for Bulk drug Pharma Park which was being evaluated by Department of Pharmaceuticals, Government of India.

Chief Minister said that Kinvan Pharma park with investment of 850 crore was also being developed at Nalagarh which would meet out 57% of requirement of Antibiotics requirement in the country. Department of Pharmaceuticals, Government of India has already approved M/s Kinvan Pharma project under production linked scheme in the line of making India self reliant in Pharma sector.