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Japanese Chemicals, Pharma Industry Keen to Invest in India

Japanese chemicals and pharmaceutical companies have evinced interest to invest in India with the likes of Mitsubishi Chemicals Co already committing Rs 1,665 crore investment for capacity expansion at its Haldia unit // , Union Chemicals and Fertilisers Minister Ram Vilas Paswan said here.

The minister who led a delegation to Japan recently, said during his trip significant discussions with the Japanese Pharmaceutical Industry Association (JPIA), Japan External Trade Organisation (JETRO) and representatives of Japan India Business Chamber of Commerce (JIBCC) were held.

He said Mitsubishi Chemicals Company announced their plan to expand capacity of Purified Teraphthalic Acid (PTA) manufacturing facility at Haldia from 4,70,000 tonnes to 12,70,000 tonnes, which would bring an investment of Rs 1,665 crore.

"Also EISAI Chemicals expressed their willingness to set up a new manufacturing unit and R&D facility, which could be either at Vishakhapatnam or Indore," Paswan told reporters here.

He said the Japanese pharmaceutical industry also expressed a strong desire for forging collaboration with Indian counterparts for contract manufacturing and conducting clinical trials in India.

Paswan said already 35 Japanese companies have confirmed their participation at the India-Chem, 2006 to be held in Mumbai in November.

"A total of 125-130 companies are expected to take part in the exhibition with about 65 visiting countries," he said.

Source:PTI News

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