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Biocon’s research services arm Syngene International would set up a new plant at Mangalore SEZ to manufacture pharma ingredients and agro chemicals.
“Our subsidiary Syngene International is in the process of acquiring approximately 40 acres of land on leasehold basis in the multi product category... by Mangalore SEZ Ltd,” Biocon informed the BSE.
It further added:” This land would be used for setting up commercial scale facilities to manufacture novel active pharmaceuticals ingredients, advance ingredients and agro chemical for Syngene’s client“.
Syngene has also been granted status of co-developer under the SEZ rules, for providing infrastructure facilities to the unit, Biocon informed.
There has been speculation that Biocon would file a prospectus for listing Syngene soon.
It, however, could not be ascertained, as a query sent to a company spokesperson remained unanswered.
In 2012, Biocon had decided not to go ahead with listing of Syngene after selling 7.69 per cent stake for Rs 125 crore to an arm of GE Capital, citing “unfavorable global, economic and political” conditions.
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