India's state-owned homeo pharmaceutical manufacturing unit to be expanded
Friday, February 13, 2015
The Cabinet decision to sanction land to the Kerala State Homoeopathic Cooperative Pharmacy Ltd (HOMCO) has provided an impetus to the planned expansion of the government-owned homeopathic medicine manufacturing company.
The Cabinet, which met on Wednesday in Thiruvananthapuram, resolved to provide a 57-cent plot for establishing a world-class factory complex of the Mararikulam South-based company. The development is considered to have brought an end to the delay in expansion plans that were put on hold since 2011.
According to HOMCO managing director P.V. Santhosh, the construction of the factory complex, which will be undertaken at a cost of Rs. 20 crore, will be completed within 18 months. The expansion will result in job creation for nearly 300 persons, besides creating a source of livelihood for many more indirectly.
The proposed project would ensure the time-bound supply of medicines manufactured by the company to all States and also make it possible to export the products, he said. In addition, Rs. 60 lakh has been sanctioned for developing the existing factory at Pathirappally. Dr. Santhosh said that by completing the work within three months, it would be possible to raise the company’s productivity by 40 per cent.
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