The Laurus Labs is set to establish a bulk drugs manufacturing unit with an investment of approximately ₹5,000 crore at IP Rambilli Phase-2, Gorapudi village, in Anakapalli district. The project is expected to generate direct and indirect employment opportunities for 7,500 people.

On Thursday, Laurus Labs CEO Chava Satyanarayana and Executive Vice President Chava Narasimha Rao met Chief Minister N. Chandrababu Naidu at the Secretariat and expressed their gratitude for facilitating land allocation.

The Chief Minister emphasised on the importance of speed of doing business in providing employment and economic opportunities. He assured full support from the government and urged the company to commence on-ground operations at the earliest. He also highlighted that the establishment of the unit would significantly boost job opportunities for the youth in the region.

Laurus Labs has been investing in the Visakhapatnam region since 2007, with existing manufacturing units representing a cumulative investment of ₹6,500 crore and employing 10,000 people. The company also operates units in Bengaluru and Hyderabad. As part of its expansion strategy, Laurus Labs is now setting up industries in Rambilli, focusing on fermentation, crop science chemicals, and green chemistry-based specialty chemicals. Recently, the company has been in discussions with the State government regarding its expansion plans in Andhra Pradesh.