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Hindustan Syringes to expand at an outlay of Rs 150 cr
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SME Times News Bureau | 13 Oct, 2021
Medical syringe major Hindustan Syringes and Medical Devices Ltd (HMD)
is in the process of expanding its cannulas (needle points) and needle
capillary tubing production capacity, said a top company official.
"Our
capital expenditure last year was Rs 100 crore and this year, it will
be over Rs 50 crore. The total capex will be Rs 150 crore on syringes
and on the backward integration," Managing Director Rajiv Nath told
IANS.
He said a new 1.5 lakh square feet factory within the
existing 11 acre complex at Faridabad (Haryana) will be commissioned by
January 2022 to increase capacity from four billion cannulas per annum
to six billion per annum.
The capex will be funded internally, Nath added.
On
October 11, the company achieved a milestone of supplying 500 million
0.5 ml auto disable (AD) syringes to the government to help vaccinate
over 685 million people till date to support the massive vaccination
campaign to eradicate Covid-19.
The next lot of 16.3 million syringes has been inspected and is ready to dispatch.
According
to Nath, the company is on track to produce and supply outstanding
orders of 310 million 0.5 ml Kojak AD syringes by 2022 beginning,
hopefully by January end.
He requested the Central government to
place orders for syringes with the manufacturers in India well in
advance so that the latter could ramp up supplies or allocate supplies
for the government.
Nath said with the Central government
planning to resume export of surplus Covid-19 vaccines in the fourth
quarter of 2021 in order to fulfill the commitment of India towards
COVAX, HMD is confident that India will also be in a position to export
some syringes as part of 'Vaccine & Syringe Maitri'.
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