Telangana IT Minister KTR broke ground for SGD Corning facility

At Vemula in the moosapet mandal of the district, industries Minister KT Rama Rao officially broke ground on SGD Corning Technologies Private Limited's pharmaceutical glass-tubing factory on Thursday. This comes after SGD Pharma and Corning Incorporated (NYSE:GLW) jointly announced the creation of "SGD Corning Technologies Private Limited" to enable SGD to adopt Corning's Velocity Vial technology platform and support the expansion of pharmaceutical packaging production in India. The two businesses will work together to support drugmakers as they address challenging capacity and quality concerns while supplying the world with life-saving medications.

The agreement will improve vial quality, increase filling-line efficiency, and quicken the delivery of injectable medicines throughout the world by fusing SGD's vial-converting know-how with Corning's exclusive glass-coating technology. At SGD's plant in Vemula, India, production of Velocity Vials is anticipated to start in the first quarter of 2024. Production of pharmaceutical tubing is anticipated to start in 2025.

"I am pleased that telangana has been chosen to host the construction of Corning, a global leader in glass innovation, and SGD Pharma, a global leader in glass packaging. The about Rs. 500 crore project is expected to play a significant part in improving the primary packaging capabilities of the market to facilitate greater vaccine and essential medication manufacturing from Telangana. The SGD-Corning relationship is a positive step forward as we expand our ecosystem in order to meet India's target of a $250 billion ecosystem by 2030, according to Rama Rao.

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09/06/2023 08:45 AM