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Granules, an Indian producer of active pharmaceutical ingredients (APIs), will spend $84 million on an API plant and ancillary facilities, including an R&D unit, in Vishakhapatnam, India. International Finance Corp., a for-profit subsidiary of the World Bank, is enabling the project by buying $48 million in Granules bonds. IFC previously financed various Granules projects, including investment in cleaner production. The new plant will allow Granules to produce higher-end APIs, according to IFC.
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