Indian pharma company is looking for a construction site in Ingushetia

Gogineni Vijayakumar, General Director of Varthamana International Traders, an Indian company, has arrived in the Republic of Ingushetia. The Chairman of the Government of the Republic of Ingushetia Ruslan Gagiev held a working meeting with the head of the Indian company.

Earlier, at the 22nd St. Petersburg International Economic Forum, the Republic of Ingushetia and India reached an agreement on cooperation. The agreement signed by the parties provides for the implementation of investment project worth 200 million rubles to manufacture medical devices and pharmaceuticals. The project will be implemented in 2018-2020.

“I am glad that this important production facility will be located in our republic. I’m sure that it will manufacture high-quality medicinal products. This will mark the start of the pharmaceutical industry development in Ingushetia,” said Mr. Gagiev.

New plant will have no analogs in Southern Russia, and Varthamana International Traders so far has no production facilities in Russia.

“We are ready to provide our industrial sites for construction and give all necessary state support, in particular, a number of preferences to investors. The leader of the Republic of Ingushetia Junus-Bek Evkurov expressed himself in favour of active cooperation with India in various fields,” said the Chairman of the Government.