Danish Novonesis to invest Rs 6,600 cr in Maharashtra

Danish biosimilars producer Novonesis on Wednesday announced a Rs 6,600 crore investment in Maharashtra’s Patalganga to expand an enzyme plant over the next four years.

Expected to be fully operational by 2030, the expanded facility will produce enzymes for a broad range of industries, including biofuels, household care, and food and beverages, as per an official statement. The facility will help it meet increasing demand from emerging markets, including those in the West Asia, Africa, India and South Asia, its president and chief executive Ester Baiget said.

“These markets represent an important and growing part of the company’s business and are expected to grow faster than developed markets in the coming years,” Baiget added. Its chief operating officer, Anders Lund, said the Patalganga facility will get it closer to customers and also help strengthen its scale, operational resilience, efficiency, and supply flexibility. In the past, it has invested in plant expansions in Thailand, the US and Brazil as part of its Capital expenditure plans.