M a r k e t N e w s

Chinese firm to build pharmaceutical plant in Ethiopia

Posted on : Wednesday, 19th October 2016

 A cornerstone-laying ceremony was conducted on Tuesday to establish a Chinese-invested pharmaceutical plant in Dukem town, about 40 km south of Addis Ababa, Ethiopia's capital.

With an investment of 85 million U.S. dollars from a Chinese firm based in southwest China's Chongqing Municipality, the plant, Sansheng Ethiopia Pharmaceuticals Plc, when completed, is expected to have a production capacity of 10 billion tablets, 5 billion capsules and 40 million parenterals.
It will also provide more than 300 employment opportunities for the local community.
Speaking at the ceremony, Mebratu Meles, Ethiopian State Minister of Industry, said the project comes at a right time when Ethiopia is undertaking a massive socio-economic transformation.
Meles hailed the project, saying that it would increase local pharmaceutical manufacturing capacity.
Liu Yu, Economic and Commercial Counselor at the Chinese Embassy in Ethiopia, said the establishment of this plant will not only improve the production capacity of Ethiopia in pharmaceutical industry, but also "bring more tangible benefits for the local people and society."

Source : news.xinhuanet.com
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