Granules India Ltd has entered into a strategic partnership with energy transition company Greenko ZeroC to collaborate for green molecule solutions and its wider applications in pharmaceuticals to build a leadership position in sustainability and circular economy initiatives. Granules India and Greenko ZeroC will develop and promote state-of-the-art integrated Green Pharmaceutical Zone (GPZ) with first collaboration at Kakinada in Andhra Pradesh, the company said in a filing to the exchanges on Tuesday.
Towards this, Granules will build a Greenfield facility based on sustainability principles for large-scale manufacturing of key starting materials (KSMs), Intermediates, APIs and fermentation-based products. The facility spread across 100 acres, will be commissioned in a phased manner. The estimated cost of the project will be approximately Rs 2,000 crore over five years.
Dr Krishna Prasad, CMD, Granules India, said, “The partnership with Greenko will power our sustainability journey by minimising carbon footprint and impact of our operations on the environment. Sustainability and Green chemistry are key pillars of our commitment to heal the planet and people through minimizing carbon footprint, adopting resource efficient processes, and reducing waste across our value chain.”
Granules India Ltd is a pharmaceutical major headquartered at Hyderabad has presence in over 80 countries across the world, including United States and United Kingdom. The company has six manufacturing facilities in India and one in the US.
Granules India Ltd stock was trading 1.94 percent higher at Rs 326.55 apiece on BSE at 1:55 pm on Tuesday.
