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Dutch pharma co announces Rs200cr unit in Mihan-SEZ | Nagpur News – Times of India


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Nagpur: Keystonemab, a pharmaceutical company from the Netherlands that manufactures medicines for the treatment of cancer and heart diseases, has pledged a Rs 200 crore investment at Mihan-SEZ during the Advantage Vidarbha conclave on Sunday. Keystonemab has signed a memorandum of understanding (MoU) with Maharashtra Airport Development Company (MADC) Ltd to this effect.
The firm plans to acquire 7-acre land to raise the facility and aims to create 300 direct and indirect jobs, officials said.The facility would be an export-oriented unit and is pegged to annually generate Rs 300 crore revenue.
Lupin Ltd is another major pharmaceutical company that has a unit in Mihan-SEZ.
Keystonemab has diversified business interests ranging from pharmaceuticals to artificial intelligence research. It plans to set up an advanced ‘dose-form’ solutions manufacturing project in Mihan.
Tushar Satav, Indian-origin CEO and co-founder Keystonemab, chief commercial officer Rolland Meisel, chief corporate development officer Nitin Shendre, along with Prakash Patil from MADC signed the MoU in the presence of Union minister for road transport and highways Nitin Gadkari. Chairman of Association for Industrial Development Ashish Kale and secretary Vijay Sharma were also present.
Gadkari said that Nagpur, with its strong infrastructure and geographical advantage, offers a strong potential for the growth of the pharmaceutical industry. “Nagpur has Zero Mile, it is the Orange City and is known as the ‘Tiger capital of India’. Located in the centre of the country, Nagpur has several advantages for export to international markets. There is hardly any need to go to other hubs like Mumbai for exports, as top-notch logistical facilities like Sindi dry port are available right here. I would like pharmaceutical companies to take advantage of these benefits,” he said.
The Nagpur MP added that the city has 49 engineering colleges, many science and pharmacy colleges that churn out trained human resources for the industry. Gadkari said efforts are on to use the railways to export the famous Nagpur oranges to Bangladesh via Haldia in West Bengal instead of taking the sea route from Colombo. “The move will save Rs 1 lakh per container,” he said.
“We will start producing injectables and oral tablets at the Mihan facility. The land acquisition will start in a couple of months,” said Satav.
Shendre said the unit would manufacture pre-fill injections. “It is a new concept. The products would be 100% exported. We will hire 80% locals. The central and the state governments have offered us attractive schemes. Hyderabad is more favourable for the pharmaceutical industry, but we insisted on investing in Nagpur as we belong to Maharashtra,” he said.
Satav said the government’s policy on electricity tariff for export-oriented units was the deciding factor for striking the deal. “More European firms are interested in investing in Mihan,” Satav said.

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