Gujarati Group Shreem To Invest Rs 67 Cr In Telangana

The Rs 2,200-crore Shreem group of companies based in Gujarat plans to invest Rs 67 Cr in setting up a farm nutrient unit and a pharmaceutical facility in the State. The Group has evinced interest in Telangana’s planned ‘Pharma City’, as per a report in The Hindu.

The Gujarati group involved in real-estate, hospitality, pharmaceuticals and agri inputs, has entered into an agreement with a Polish firm to manufacture specialty nutrients for agriculture and plans to set up and bring into operation a plant near Hyderabad by December, with investment of Rs 42 Cr.

LCS, an arm of Shreem Group, has a registered office in Hyderabad, registered a turnover of Rs 100 crore in 2013-14. LCS would invest in the nutrient unit as well as a Pharma unit to manufacture a drug for Alzheimer’s, which was developed by a Japanese company.  Rs 25 Cr would be invested for the pharma unit.