Manufacturers of medical devices and disposables Poly Medicure Ltd plans to invest Rs. 60 crore in a new green field project at IMT Faridabad in Haryana.
The proposed project would be the company’s third facility in Haryana, and is expected to go on stream during the third quarter of 2017. Addressing reporters, Hemant Bhalla, Vice-President (Sales and Marketing), Poly Medicure, said the company has over 4-lakh sq ft of manufacturing area with over one-lakh sq ft of clean room area for rapid expansion of capacity. “The investment on the green field project would be through internal accruals,” he said. The company, which markets its range of products under ‘Polymed’ brand has six manufacturing facilities of which four are in India — one each at Jaipur and Haridwar and two in Faridabad, Haryana — one in China (a wholly-owned subsidiary) and the other in Egypt.