BHARAT Biotech International Limited, an India-based company specialising in developing and manufacturing vaccines and biotherapeutics, will be setting up its first overseas plant in Perak.
The new plant, to be built on a 6ha site at the pharmaceutical park in Seri Iskandar, will produce vaccines for typhoid, Hepatitis B, hormone for diabetic foot ulcers and cardiovascular drugs which are also therapeutic vaccines.
Chairman and managing director Dr Krishna M. Ella said the company would be investing about RM50mil in the new plant's manufacturing, and research and development divisions.
This is our first plant as well as first venture outside India, he told reporters after the company signed a memorandum of agreement with Remco Engineering and Consultancy Sdn Bhd managing director Mohd Syaifu Abdullah and Perak Development Corporation (PDC) chief executive officer Datuk Samsudin Hashim here yesterday.
Under the joint venture, Bharat Biotech will be responsible for providing the technical expertise, while Remco Engineering will build the plant. PDC is the land owner.
When asked why Bharat Biotech had chosen Perak, Dr Krishna replied, It has the right chemistry, adding that the company had earlier planned to set up its first overseas plant in Africa.
Bharat Biotech, established in 1996, operates from Genome Valley in Hyderabad, India. It records sales of US$15mil annually and is the largest biotech plant in Asia employing about 500 workers and 65 scientists, mostly locals.
The company produces various vaccines. Latin America, Africa and the Philippines are its biggest markets.
Dr Krishna said the vaccines manufactured at the Perak plant would be used to penetrate the Middle East and Asean markets, particularly Indonesia.
The new plant will be ready by the middle of next year.
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