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Beating Covid, Divi's SEZ records 27% growth
Visakhapatnam Special Economic Zone (VSEZ) Development Commissioner A Rama Mohan Reddy recently visited Divi’s SEZ
Divi’s Laboratories Limited’s sector-specific Special Economic Zone near Visakhapatnam has achieved an export turnover of Rs 2,701 crore till December 31, 2020 as against previous year’s Rs 2126 crore, accounting for a growth rate of 27 per cent.
Visakhapatnam: Divi's Laboratories Limited's sector-specific Special Economic Zone near Visakhapatnam has achieved an export turnover of Rs 2,701 crore till December 31, 2020 as against previous year's Rs 2126 crore, accounting for a growth rate of 27 per cent. The Divis SEZ is spread over 350 acres. It is the first sector specific SEZ to commence production in the country in 2006 after the SEZ Act and Rules came into existence.
Visakhapatnam Special Economic Zone (VSEZ), Duvvada, Development Commissioner A Rama Mohan Reddy, who recently visited the SEZ, told Bizz Buzz on Monday that the lockdown imposed to control Covid-19 pandemic notwithstanding, Divi's SEZ had achieved an impressive export turnover with an encouraging growth rate. The SEZ has provided employment to 6,641, mostly local youth.
Stating that the Divi's SEZ had a bright future, he said since it launched its operations, it had registered a total export turnover of Rs 23,847 crore.
Reddy lauded the work ethics and safety measures being implemented at the SEZ, which has many distinctions like producing 80 per cent of the world's requirement of Naproxen Sodium, the oldest known analgesic in the world. The SEZ has to its credit the CSR activities carried out in education, health and social sector in the neighbouring villages. The total investment made is to the tune of Rs 2,086 crore.
Reddy said, "One of the earliest and most successful sector specific SEZs in pharma sectors, Divi's SEZ was set up In 2006-07 and had been producing more than 18 varieties of bulk drugs and nutraceuticals. It commenced commercial production in the same year. The Divi's SEZ is located at Chippada village near Bheemili consisting of three units. All the units are under operation.
Divi's SEZ Director MS Rao Divi and Koteswara Rao from Administration Department later briefed the Development Commissioner about the activities and performance of the units located in the SEZ and the EoUs. During the visit, Reddy taking cue from Centre's decision to observe the diamond jubilee celebrations of the country's Independence on August 15 in 2022, discussed various activities to be included under "The India@75 Project" with the SEZ management.
He said that VSEZ had resolved to take up many activities in all 61 operational SEZs under its jurisdiction in the field of reduction in energy and water use, handling waste, better quality of life, easy access to buildings for differently-abled persons, increasing captive solar energy generation, and plantation activities.
