IBEF: January 30, 2020
Sami-Sabinsa Group, a health-science and nutraceuticals company, will commission its new manufacturing facility at the Pharma SEZ Industrial Area in Hassan (Karnataka).
This facility is a part of the Sami-Sabinsa Group's growth strategy and is planned with an investment of Rs 200 crore (US$ 28.62 million). The plant, in its phase 1, will house a 40,000 square metre active nutraceutical ingredients (ANI) manufacturing unit installed with an annual capacity of 300 tonnes and is expected to be functional by 2021.
Dr Muhammed Majeed, Founder & Chairman, Sami-Sabinsa Group said, "World over, consumers are seeking alternatives to better health and looking for food and beverages that cater to all their nutritional needs. As the pioneer and among the few Indian companies to have created a global market for patented formulations in the health space, we are committed to a research-oriented, science-based approach towards developing products that make lives healthier and better. The upcoming facility at Hassan is a reinforcement of this commitment. The new unit, when operational, will play a pivotal role in boosting our exports further and help us to double our revenues. The first phase, once functional in 2021, will provide employment to around 400 qualified personnel in the fast-growing industrial region of Hassan."
Mr VG Nair, Director and CEO, Sami-Sabinsa Group, explained, "Sami-Sabinsa's new plant is designed to meet international standards and requirements and will house a high quality, environment-friendly zero liquid discharge (ZLD) facility ensuring energy efficiency, responsible water management and biodiversity development. The ANI facility is 100 per cent cGMP and regulatory compliant."
This plant in Hassan is sixth global manufacturing facility of the group, in addition to its current units located in Peenya, Dobaspet, Kunigal, Hyderabad, Nelamangala and the US. The plant once functional is expected to not only expand the group's overall manufacturing capacity but will also help in strengthening its position as one of the country's foremost and largest nutraceuticals producer.
According to industry reports, the global market for nutraceuticals is estimated to witness a robust growth and is expected to reach US$ 373 billion by 2025, growing at a CAGR of 7.5 per cent. The Indian nutraceuticals market has grown to be a US$ 3 billion industry and is forecast to touch US$ 8.1 billion by 2022.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.