Mumbai, January 24, 209: DIL Limited’s subsidiary, Fermenta Biotech Limited (FBL), a leading global manufacturer and supplier of Vitamin D3 (Cholecalciferol) has executed a 99 year lease agreement for acquisition of land aggregating to about 40,000 Sq M from the Gujarat Industrial Development Corporation (GIDC) authority, Ankleshwar, Sayakha, for future expansion and new projects.
The land acquisition is a part of the FBL’s long-term capacity expansion plans. The company aims to commence manufacturing by end of 2020. The existing Dahej facility is 30,689 Sq Meter.
Prashant Nagre, Chief Executive Officer of FBL, commented on this new development,
“The growing demand from customers across the world necessitated the scale up of our capacities, and Sayakha was our preferred choice to set up a new plant. We wish to continue our association with Gujarat and benefit from this investor friendly atmosphere. Sayakha is strategically located between Dahej and Bharuch and will generate synergies.
Strategically, Fermenta is positioning itself as a nutraceutical ingredients manufacturer, by entering into the nutrition vertical through not only value added variants of Vitamin D3, but also new products in the Vitamin and Mineral Supplements segment. Hence, our new plant at Sayakha is a step forward in growing organically in order to facilitate product extensions and new product rollouts.”
Corporate Comm India(CCI Newswire)
