Indian investor may build a pharmaceutical plant in the Murmansk region
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The Indian investor plans to build a pharmaceutical complex and an active pharmaceutical ingredients plant in the Murmansk region within the framework of a public-private partnership (PPP). The Saffarm company and the authorities of the region signed a corresponding agreement at the St. Petersburg International Economic Forum (SPIEF), reported in the Murmansk Ministry of Information Policy.
It is noted that the enterprise will produce import-substituting products and supply them to public hospitals and pharmacies. Within three years after the launch, the plant’s capacity should be more than 1.3 billion medicinal units per year, as well as 1,800 tons of pharmaceutical ingredients, and then 6,000 tons. It is assumed that the company will employ 280 employees.
According to Andrey Chibisov, Governor of the Murmansk Region, the volume of investments could reach more than 10 billion rubles. The authorities plan to develop preferences for the company.
“We are glad that we will be able to scale our business in the East of Russia and in the Arctic zone of the Russian Federation. Tax incentives and administrative support will allow us to launch investment activities in the shortest possible time,” said Kumar Divesh, CEO of the company.
Saffarm LLC was registered in the Murmansk region on May 24, 2023. The beneficiaries are the Indian Safecon Lifesciences and Avicare Bio Science.
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