Novozymes, the world’s largest supplier of industrial enzymes, on Wednesday said it is investing Rs 300 crore for setting up a new production and supply chain facility near here as part of an expansion drive.
Novozymes is a global biotechnology company headquartered in Bagsværd outside of Copenhagen, Denmark employing approximately 6,500 people by the end of 2014.
The company plans to establish a new enzyme production and supply chain facility at Patalganga, an industrial area near here, and it is expected to be ready for operations in 2018.
The unit will see an initial investment of about DKK 300 million (Rs 300 crore) in the first phase and employ 150 people, the Denmark-based firm said in a statement here.
Novozymes, which has a market share of 48 per cent globally, said the facility will cater to India and South East Asia.
“We see a big opportunity in India and South-East Asia, where knowledge-based innovations in the field of industrial enzymes can effectively replace polluting chemical processes and deliver environmental sustainability,” said Thomas Videb k, Executive Vice President & COO, Research, Innovation & Supply at Novozymes.
“Our business in the region has been growing strongly for years, to a point where we have outgrown current facilities and need to expand for the future. We have chosen the new area for its size, proximity to customers, future business opportunities and good accessibility to ports, airports, highways and other industrial infrastructure,” Videb k said.
The new plant will produce enzymes using solid state fermentation and also formulate enzymes imported from Novozymes’ production sites outside India.At present, the key business areas for Novozymes in India are household care, textiles, food & beverages, oil & fats, baking, and beverage alcohol markets.
Novozymes has been present in India since 1983 and currently occupies three sites in Bengaluru. The solid state fermentation and supply chain operations for the region will move to the new production site near Mumbai.
However, all other functions will remain in Bengaluru, including Novozymes’ India Head Office, Research & Development centre and the service centres which provide support to global operations, the statement added.