6/13/2012 8:28:40 AM
Ahmedabad-based Concord Biotech will invest $20 million in setting up a fermentation facility abroad to save on power and fuel costs. The company did not disclose the location, but chairman Sudhir Vaid said the project would be in Asia. "We are in talks with the government of an Asian country," Mr Vaid said, adding that Concord was looking for cheaper land and easier project clearance.
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