New Delhi, Dec. 1 -- The cost of development of a bulk manufacturing drug park in Raigad district of Maharashtra will be jointly borne by the central and state government, reported Mint.

With the Central government funding Rs 1,000 crore and state government putting in Rs 1,442 crore, the estimated cost of park construction will be about Rs 2,442 crore.

Accounting for 20 per cent of Indias pharmaceutical output, Maharashtra will strengthen this potential with plans to set up a bulk drug park in Raigad district to boost manufacturing of raw materials for medicines in the country.

The Indian Drugs Manufacturers Association (IDMA) has received a proposal from D.R. Gahane, joint commissioner of the Maharashtra food and drug administrat...