Friday , February 28 2020
Home / Business / Cypriot pharmaceutical firm breaks ground on $16mn plant in southern Vietnam

Cypriot pharmaceutical firm breaks ground on $16mn plant in southern Vietnam

A pharmaceutical company from the Republic of Cyprus has broken ground on a costly new plant in southern Vietnam that meets WHO standards.

A pharmaceutical company from the Republic of Cyprus has broken ground on a costly new plant in southern Vietnam that meets WHO standards.
A pharmaceutical company from the Republic of Cyprus has broken ground on a costly new plant in southern Vietnam that meets WHO standards.

Newswire Vietnamplus reported on Tuesday that Medochemie, headquartered in Limassol, will open its second manufacturing facility in Binh Duong Province next year.

The plant, the construction of which began on March 17, costs US$16 million and will specialize in producing pharmaceutical products.

It is located in the Vietnam-Singapore Industrial Park 2 A in Binh Duong, around 30km from Ho Chi Minh City.

It covers a total area of 44,700 square meters and includes several workshops to produce different types of medicines following WHO-GMP and EU-GMP standards, which aim at assuring that the products are of high quality and do not pose any risk to consumers or the public.

The plant is expected to be completed in late 2015 and become fully operational in early 2016. The products will be consumed locally as well as exported to other countries.

This is the second plant that Medochemie has built in Binh Duong so far. The other plant was built at the same industrial park on a total area of 18,400 square meters and had a total investment of $14 million.