Hikal Ltd. and the Government of Gujarat have entered into a Memorandum of Understanding (MoU) at the Vibrant Gujarat Global Summit 2024. 

According to the terms of the MoU, Hikal will make a substantial investment of INR 500 crores into the existing fine chemical plant located at Panoli, Gujarat.

The Panoli plant holds a unique distinction as the only Hikal site that encompasses all three business verticals—Pharma, Crop Protection, and Animal Health. This investment is expected to further enhance the capabilities of the plant and contribute to Hikal's growth in these key sectors.

The Government of Gujarat on the other hand has committed to providing extensive support to Hikal in obtaining the necessary permissions, registrations, approvals, and clearances from relevant state departments. 

This collaboration underscores the state's commitment to fostering a conducive business environment and promoting investment in the region.

The investment initiative is part of the broader framework of the Vibrant Gujarat Global Summit 2024, which serves as a platform for facilitating business collaborations, encouraging strategic investments, and promoting sustainable development.