The Piramal Group has agreed to invest ₹500 crore in Telangana over the next three years. The investment is expected to be made in new manufacturing units, warehouses and utility expansion.
The deal was clinched by the Telangana Minister for IT, KT Rama Rao, who is heading a delegation to the World Economic Forum in Davos.
The Minister for Industries welcomed the decision of Piramal Pharma to expand its operations in the State and promised to provide all the assistance to the group.
The Piramal Group also plans to shift their plant from other States to Hyderabad, the minister KTR .
This proposed expansion in the healthcare sector in Hyderabad will employ over 500 people at an additional revenue of up to ₹500 crore. The Piramal leadership team plans to visit the new site early next month. Piramal Pharma at present has a manufacturing facility in Telangana.