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Radha Madhav to invest Rs750mn for new project
Daman based Radha MadhavCorporation Limited (RMCL) at board meeting on Tuesday approved starting a new project for manufacturing of pharmaceutical grade PVC sheets, coating of PVdC and similar substance on the sheet at Pantnagar in Uttaranchal. The project cost is estimated to be Rs750mn.
The board approval for the project is a step in the direction of a major expansion plan, chiefly aimed at penetrating the pharma packaging sector; to be implemented by March 2007. The Uttaranchal plant will manufacture 24,000 metric tones of calendared PVC films/ sheets annually. The factory will comply with GMP standards and the products will be USDFA approved.
The expansion plans include establishing state of the art manufacturing facilities to produce calendared PVC blister, PVdC coated PVC blisters, extrusion coated blisters and ancillary equipment for pharmaceutical, food and beverage industries.
Besides the company has entered into a Memorandum of Understanding or MoU with a Russian firm to supply approximately 150 MT of films per month for next three years. The contract is valued at approximately Rs400mn.
Source: India Infoline