Press Release on Letter of Intent from Goverment of Chhattisgarh for Rs.200 Crore Pharmaceutical Manufacturing Project
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Kabra Drugs Ltd has received a Letter of Intent (LOI) from the Government of Chhattisgarh to set up a pharmaceutical manufacturing facility at Nava Raipur Pharma Park. The proposed investment is approximately ₹200 crore and is expected to generate around 250 direct and indirect jobs. The facility will focus on pharmaceutical and related healthcare manufacturing, expanding the company's production capacity. The project is subject to execution of definitive agreements and receipt of necessary approvals and sanctions. The LOI was received on June 12, 2026, and announced on June 13, 2026.
This is a positive development for shareholders as it signals a major capacity expansion backed by government support and incentives, potentially boosting long-term growth. However, the project is still at the LOI stage and subject to final approvals, so execution risks remain.