Maiva Lifesciences, a subsidiary of Maiva Pharma, has received approval from the MEPZ SEZ Unit Approval Committee (UAC) to establish an Export-Oriented Unit (EOU) in Krishnagiri. 

The project, with an investment of Rs 623 crore, will be located at the SIPCOT SEZ in Krishnagiri, where Maiva Pharma already operates a manufacturing plant. The new facility is expected to create 570 jobs, according to a PIB release.

The approval was granted during a meeting of the UAC chaired by Alex Paul Menon, Development Commissioner, MEPZ SEZ. 

The committee reviewed 17 proposals spanning manufacturing, logistics, and service sectors, with a total proposed investment of Rs 712 crore. 

Of this, Rs 66 crore was earmarked for SEZs, while Rs 646 crore was allocated to EOUs, including the significant Rs 623 crore investment by Maiva Lifesciences.

In a notable development, the committee also approved a proposal by Kratonicals International, which plans to employ five transgender individuals, marking a significant step toward fostering inclusivity and diversity in SEZ workplaces.

The UAC meeting underscored its commitment to encouraging new investments, generating employment, and implementing progressive policy initiatives, the release added.