To Expand Area Under Cultivation In TN To 15,000 Acres
Coimbatore 16 June
SAMI Labs, the Bangalore based health sciences company, plans to set up a manufacturing unit in Salem by the end of the current fiscal. "The facility will have a capacity to process 50 tones of medicinal plant material every day," Managing Director Muhammed Majeed said.
The company will increase the area under Coleus Forskohlii (a medicinal plant) cultivation in Tamil Nadu from the present 3000 acres to 15000 acres. In the last fiscal Sami invested close to Rs 10 crore in Salem and adjoining areas for coleus cultivation through its associate company MGP Herbals Care.
The investment for cultivation in the current year would be to the tune of Rs 50-60 crore. The company is expanding its coleus cultivation area to primarily meet the increasing demand for its flagship weight management product, ForsLean. "The requirement is going up every year. We need about 15000 tones of coleus next year as the overseas orders are booming," Mr Majeed said. Sami gets about 20% of its revenue from the sale of ForsLean, he added.
More than 5000 farmers in 15 districts in the state are involved in the project. "We are extending support to the farmers by arranging loans and crop insurance. We provide them with all the farm inputs," said Mr G Palanivel MD of MGP Herbals.
It is also launching its model contract farming project for turmeric in Erode and Salem districts this year Initially the project would cover 1000 acres.
The clinical trials for Sami's ‘natural' glaucoma drug is in advanced stages and the company was hopeful of getting the license to manufacture it soon. It would commission its Hyderabad facility by the end of the year and additional manufacturing capacities are coming up at its existing production base at Nelamangala near Bangalore .