Kilitch Drugs plans to start manufacturing operations in Ethopia, Africa
Deepthi | Myequity news | Date : 24-10-2018 16:55:00 IST
Kilitch Drugs is all set to boost its expansion plans in Africa with its first manufacturing plant in Addis Ababa, the capital city of Ethopia.
Mr. Bhavin Mehta, Director of Kilitch Drugs states, “We are highly optimistic with the move of setting up our first manufacturing plant in the African market. We chose Ethopia since it is politically the most stable country in the continent. We are confident of the beginning of the plant’s operations by mid-20l9”. About Kilitch Drugs:
The manufacturing plant has approximately completed 60% of its the construction with more machineries and peripherals started to arrive at the plant. The production from the Kilitch’s first plant is likely to commence from mid 20l9-2020. The company expects to generate a revenue of 500 crores in next 5 years as it is bullish on the African markets. With the sole concentration on its upcoming plant, the management will look forward to replicating the Ethopian model to the rest of Africa.
Kilitch Drugs was incorporated in May I992 as a public limited company. The company went public in February I994 to set up a pharmaceutical formulation plant at Thane to manufacture pharmaceutical products in the form of injectables. Company belives Africa is the pharma market for next decade & working towards that goal by registering as many products possible to have a proper inroad in various east & west african countries.