NewsStocksGalaxy Medicare Signs ₹19.45 Cr Agreement with Odisha Government for Manufacturing Unit in KhordhaGalaxy Medicare Signs ₹19.45 Cr Agreement with Odisha Government for Manufacturing Unit in Khordha
Galaxy Medicare Limited has signed an agreement with the Odisha government to establish a new pharmaceutical and medical devices manufacturing facility in Khordha district. The company has committed to invest ₹19.45 crores in this project, which will focus on producing pharmaceuticals and medical devices. This move marks Galaxy Medicare's expansion into eastern India and is expected to enhance its production capacity and market position.
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Galaxy Medicare Limited has signed an agreement with the Odisha government to establish a new pharmaceutical and medical devices manufacturing facility in Khordha district. The healthcare company has committed a proposed investment of ₹19.45 crores for this manufacturing unit, marking its expansion into the eastern Indian state.
Project Details
The manufacturing unit will focus on pharmaceutical products and medical devices, expanding Galaxy Medicare's operational footprint. The facility will be located in Khordha district, which is part of Odisha's industrial development initiatives.
| Parameter | Details |
|---|---|
| Investment Amount | ₹19.45 crores |
| Location | Khordha district, Odisha |
| Manufacturing Focus | Pharmaceuticals and Medical Devices |
| Partner | Odisha Government |
Company Profile
Galaxy Medicare Limited operates in the healthcare sector and is classified as a small-cap company with a current market capitalization of ₹28.68 crores. The company trades on stock exchanges under the symbol GML and has an ISIN code of INE09A801015.
Strategic Significance
This agreement represents Galaxy Medicare's commitment to expanding its manufacturing capabilities in India's growing pharmaceutical sector. The partnership with the Odisha government provides the company with institutional support for establishing operations in the state, which has been actively promoting industrial development and investment in healthcare infrastructure.
The proposed investment of ₹19.45 crores is significant for Galaxy Medicare, considering its current market capitalization. The manufacturing unit is expected to enhance the company's production capacity and strengthen its position in the pharmaceutical and medical devices market.
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