Ranbaxy to pump $600mn in Punjab healthcare

Ranbaxy Laboratories today said that it would invest $500-600 million (around Rs 2,025-2,430 crore) in Punjab's healthcare sector.

"We have submitted our project proposal with the Punjab government. The project will involve an investment of $500-600 million in creating healthcare infrastructure such as hospitals and medical institutes in the state in the next few years," Malwinder Singh, CEO and managing director, Ranbaxy Laboratories told reporters today.

The project would also take on board partners from public sector, he added. Singh was here to attend a conference on pharmaceutical industry.

On its proposed 80-acre SEZ in Mohali, Singh said that the company would produce 10 million tablets in the next two years in the SEZ. Ranbaxy had already announced an invest of Rs 265 crore in the SEZ project. "We are open to involve other partners in this venture also," he said.