Leading in-vitro diagnostics firm Transasia Bio-Medicals Ltd Thursday announced a Rs 50 crore investment for the expansion of its manufacturing facility in Sikkim.
The Sikkim plant is the company's fourth and largest manufacturing facility in the country. The other three units are in Mumbai, Daman and Baddi.
It is also the first diagnostics manufacturing plant in the Northeast.
"Sikkim is fast becoming a major hub for healthcare manufacturing with 14 major players already there. Transasia's new facility will further reinforce this besides providing employment to the local people," Transasia Chairman & Managing Director Suresh Vazirani said.
The expansion will significantly enhance Transasia's capacity to cater to the growing Indian and overseas market demands.
It will be able to produce 6000 plus instruments including the complete range of semi-automated analysers, in a month.
Transasia boasts as the first Indian company to manufacture and export blood analysers and reagents, in the 1990s.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)