New Delhi, January 30: Health science and nutraceuticals giant Sami Sabinsa Group on Wednesday said it is investing Rs 200 crore to build a manufacturing unit in Karnataka’s Hassan district.
The new facility will be a Active Nutraceutical Ingredients (ANI) manufacturing unit having an annual capacity of 300 tonnes and will be functional by 2021, an official statement said.
The company statement cited a research saying that the worldwide nutraceutical market is expected to grow at 7.5 per cent per annum to touch USD 373 billion by 2025.
“The new unit when operational will play a pivotal role in boosting our exports further and help us to double our revenues,” its founder and chairman Muhammed Majeed was quoted as saying.
The first phase of the facility will provide employment to around 400 people, he added.