Jubilant expects Rs 1,000 cr revenue from new Gujarat SEZ NEW DELHI
Jubilant Life Sciences said it expects to generate an additional revenue of Rs 1,000 crore from exports in the next few years when its new facilities at Special Economic Zone (SEZ) in Gujarat reach full capacity.
The company's SEZ, set up at a cost of Rs 500 crore at Bharuch, was inaugurated by Gujarat Chief MinisterNarendra Modi today.
The SEZ will have three manufacturing units in the SEZ -- one for production of Vitamin B3 and 3-Cyanopyridine with a combined capacity of 10,000 tonnes per annum and the other for producing Symtet, a crop science ingredient. "These facilities will generate exports of about Rs 1,000 crore at full capacity," the company said in a statement.
While it did not specify the timeline for reaching full capacity at the SEZ, a company official said it is expected in the "next few years".
In the fiscal 2010-11, the company's exports stood at Rs 1,135 crore. It is yet to announce the full financial results for the fiscal 2011-12.
Jubilant Life Sciences set up the SEZ after it had signed Memorandum of Understanding signed with the state government during the 'Vibrant Gujarat' conference in 2007.
Commenting on the development Jubilant Life Sciences CMD Shyam S Bhartia said: "We are setting up global size world class manufacturing facilities in Gujarat to fulfill our vision of leadership position in chosen areas of business." Shares of Jubilant Life Sciences today closed at Rs 179.75 on the BSE, down 3.93 per cent from its previous close.