 "Schott investing 70 mn euros to expand capacity of Jambusar plant")
Pharmaceutical glass manufacturing major Schott on Tuesday said it is investing 70 million euros (over Rs 605 crore) on the expansion of its tubing site at Jambusar in Gujarat.
This would lead to significant increase in capacity and create 225 new jobs, it added.
"Against the backdrop of the growth trend in the Indian pharmaceutical business and the pandemic, we want to commit to secure the supply of pharma glass," Schott's Business Unit Tubing Executive Vice President Patrick Markschlager said.
The company has been a frontrunner in the fight against the pandemic and provided pharmaceutical glass for primary packaging to fill billions of COVID-19 vaccines worldwide, Schott said in a statement.
In India, almost all approved vaccines are packed in Fiolax glass made by Schott, it added.
"The additional investment of Rs 605.6 crore (EUR 70 million), a significant increase in the facility's overall Indian production capacity, is a commitment to supporting the government's vision of India becoming a global pharmaceutical hub," Schott Glass India MD Pawan Shukla said.
The expansion in Jambusar will create new jobs for around 225 employees and is part of a more than USD 1 billion strategic investment program of Schott through 2025, leveraging the global pharma tubing and packaging business, the statement added.
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