AstraZeneca to Invest INR 250 Cr to Expand Its Chennai Global Innovation and Tech Centre This expansion will create around 1,300 roles focused on innovation, efficiency, and global operations.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
AstraZeneca India Private Limited (AZIPL) has announced an INR 250 crore (USD 30 million) investment to expand its Global Innovation and Technology Centre (GITC) in Chennai, Tamil Nadu.
According to the official release, this expansion will create around 1,300 roles focused on innovation, efficiency, and global operations. The facility was inaugurated by Dr TRB Rajaa, Tamil Nadu's Minister of Industries, alongside British Deputy High Commissioner Christina Scott CMG and AstraZeneca's leadership team.
Celebrating its 45th year in India, AstraZeneca aims to leverage advanced technologies to enhance healthcare outcomes through this expansion by 2025.
Sanjeev Panchal, Managing Director and Country President of AstraZeneca Pharma India Limited (AZPIL), said, "Our expansion in Chennai signifies AstraZeneca's unwavering commitment to pioneering science and innovation. This strategic investment underscores our dedication to improving patient outcomes through cutting-edge technology and reinforces our aspiration to transform the future of the healthcare industry."
The GITC facility in Chennai currently occupies 334,000 square feet of office space at Ramanujan IT City. With AstraZeneca's entry into the landscape, it further plans to add about 180,000 square feet over the next six months.
AZIPL is the Global Capability Center of the Swedish-British pharmaceutical corporation that made its entry into the Indian market around 45 years ago. The business created the highly sought-after COVID-19 vaccination, known as Covishield. It currently employs over 4,000 individuals nationwide.
Thiru MK Stalin, Chief Minister of Tamil Nadu, said, "Technology is the driving force behind innovation, and we are committed to making Tamil Nadu an epicenter of technology and research. This collaboration with AstraZeneca aligns perfectly with our vision to foster innovation and create high-value opportunities for the people of Tamil Nadu. We are committed to ensuring Tamil Nadu's position as a premier investment destination for companies around the world."
Dr TRB Rajaa, Industries Minister, Tamil Nadu, added, "This investment will not only enhance our state's capabilities in the pharmaceutical and healthcare sectors but also spur technological advancements and economic development. With this expansion and talent exposure, AstraZeneca is contributing to our vision of making Tamil Nadu a global hub for innovation-driven industries."
