Sri Lanka to build first-ever pharmaceutical manufacturing zone
pharmafile | January 9, 2018 | News story | Manufacturing and Production | Pharma Zone, Sri Lanka, manufacturing, pharma
Sri Lanka is set to build its first-ever exclusive pharmaceutical manufacturing zone, it has emerged. The State Pharmaceuticals Manufacturing Corporation of Sri Lanka (SPMC) and Pharma Zone this week entered into an agreement to pursue the investment into the nation’s Kalutara district which comes to a total in excess of US$10 million.
Pharma Zone is a company approved by Board of Investment of Sri Lanka which occupies a 50-acre plot in the Welipenna area of the Kalutara district. As part of the new investment, Pharma Zone will provide local pharmaceutical manufacturers with the land and infrastructure they need to establish manufacturing and production operations. The deal is hoped to help the Sri Lankan Government achieve its goal of localising pharmaceutical production to the value of US$100 million.
The deal was driven by Pharma Zone principals the Sultan of Johor, Sultan Ibrahim Ismail Ibni Sultan Iskandar and Patrick Lim Soo Kit, a leading Malaysian entrepreneur.
Health Minister Dr Rajitha Sanaratne was present at the agreement’s signing on Monday, where he expressed hope that the investment would encourage other overseas investors to follow suit. He was joined by the Sultan and Kit, who commented: “We are delighted to enter into this agreement with the Government of Sri Lanka, which has always enjoyed warm relations with Malaysia. It is the fervent wish of His Majesty Sultan Ibrahim, that this venture not only brings commercial prosperity to Sri Lanka but also benefits the people by way of reduced pricing as well as the ready availability of drugs.”
Matt Fellows
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