BioTec Plant in Koggala: Radalle Holdings to invest Rs 3.5B
By Mario Andree
Keeping with President Gotabaya Rajapaksa’s vision of producing more than 50 per cent of Sri Lanka’s medical requirements locally and an aim to make Sri Lanka a pharmaceutical hub in South Asia, construction major Radalle Holdings is investing more than Rs 3.5 billion to setup a generic injectable plant. The foundation-laying ceremony for the facility, which the company claims to be Sri Lanka’s first BioTec Plant, was held on Friday at the Koggala Board of Investment (BOI) Export Processing Zone (EPZ).
With a capacity to produce more than 60 million ampoules, 20 million vials per year, the new manufacturing plant will produce nearly 33 liquid injectables, including insulin, sufficient for the demand within the country saving more than US$ 10 million in import expenditure.
The company is also planning to sell their products to the South Asian Market as the demand for sterile injectables by the State Pharmaceutical Manufacturing Corporation being around 20 per cent of the plant’s production capacity.
“We are one of the key partners that are joint venturing with the State Pharmaceutical Manufacturing Corporation in a Public- Private Partnership. It has not only broadened our horizons but also it has helped the State sector fulfill their pharmaceutical needs,” the company said. “We are planning to become the leader in Sterile Liquid injectables in the Global Market during the next few years, making Sri Lanka a hub for pharmaceutical liquid injectables” it said.
“The plant would be operating at less than 20 per cent to its capacity when supplying to the local pharmaceutical market, opening its horizons, to the rest of the world and international markets of Europe. The plant would have a competitive advantage over other competitors with its spare 80 per cent idle production capability,” it said.
According to the company the new manufacturing plant will be constructed under European standards and provide employment to more than 200 individuals.