Healthcare Pharma to invest $424m at Bangabandhu Shilpanagar

Healthcare Pharmaceuticals Limited, one of the leading local drug makers in Bangladesh, will invest $423.78 million to set up its new plants at the Bangabandhu Sheikh Mujib Shilpanagar in a move to expand its manufacturing capacity.

The local drug maker will lay the foundation stone for these new plants on Friday.

Bangladesh Economic Zones Authority (BEZA) Chairman Paban Chowdhury will inaugurate the works on 40 acres of land in the industrial zone located in Mirsarai, Feni and Sitakunda areas, reads a press release.

The company hopes to create job opportunities for at least 7,200 people through the project.

An administrative building, warehouse, logistics and waste management zones, water purification centre, dormitory, health services and training centres, and roads will be built in the project area.

Apart from this, environment-friendly machineries will be used to adopt an environmental management plan.

Active pharmaceutical ingredients and formulated pharmaceutical products will be produced at the new plants to meet the growing local demand for medicine.

At least five plants will be constructed at the economic zone.

Under new strategic initiatives for future business diversification plan, necessary establishments will be built there, along with buildings, to expand the export market of the company.