The Bangladesh Economic Zones Authority (BEZA) on Friday formally handed over 30 acres of land to the Delta Life Sciences PLC at National Special Economic Zone (NSEZ) in Chattogram.
Director General (Investment Development) of BEZA Ahsan Ullah and Managing Director of Delta Life Sciences PLC. Dr. Zakir Hossain exchanged the land-related documents on behalf of their respective sides, according to a statement.
It said the initial lease agreement between BEZA and Delta Life was signed on September 17 last. The company will invest around $30 million and create approximately 700 direct employment opportunities through the project.
A sister concern of Delta Pharma, Delta Life Sciences plans to establish international standard production facilities, using modern technology and innovative initiatives within the country's burgeoning pharmaceutical industry.
In the proposed industrial complex, Delta Life Sciences will establish Biopharmaceutical fill-finish and formulation facility, oncology (injectable and oral solid dosage form) facility, herbal, nutraceutical, and natural medicine facility, active pharmaceutical ingredient (API) manufacturing facility, a manufacturing facility with Artificial Intelligence (AI), and Research & Development (R&D) Centre.
The statement mentioned that BEZA's Executive Chairman Chowdhury Ashik Mahmud Bin Harun congratulated Delta Life Sciences on this milestone. "The NSEZ has created a unique opportunity for investors. This investment in the pharmaceutical sector would help diversify product manufacturing, " BEZA's executive chairman was quoted as saying.
Mr. Ashik Mahmud further noted that such investments will play an important role in job creation, increasing exports, and enhancing the country's capacity in the healthcare sector.
Dr. Zakir Hossain said by establishing modern manufacturing facilities in the plot they got allocation.
The company will be able to meet local market demand and supply competitive products to the global market, he added.
According to him, the company hopes to begin production within the next three years by initially focusing on oral solid medicines and oncology medicines. He praised the BEZA authorities for their cooperation and expressed optimism about establishing the industrial facilities shortly.
At present, some 17 industrial companies are already in production within the NSEZ while about 28 more industrial units are under construction.
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