Chandigarh, Oct. 30 -- The IOL Chemicals and Pharmaceuticals Limited (IOLCP) has announced plans to invest Rs.1,400 crore to set up a new Active Pharmaceutical Ingredient (API) manufacturing facility at Badbar village in Barnala district, said industry and commerce minister Sanjeev Arora on Wednesday.

Addressing a press conference here, Arora said that environmental clearance has already been obtained, and the company has taken possession of the land for the project. "The new unit would generate employment opportunities for 2,000 people," he said, adding that IOLCP is one of India's leading producers of APIs and specialty chemicals and is globally recognised as the largest manufacturer of Ibuprofen, a key non-steroidal anti-inflammatory ...