BAKU, Azerbaijan, December 7. Medicines to be produced at the new plant in Azerbaijan's Pirallahi are intended for both the domestic market and export, Azerbaijani Minister of Economy Mikayil Jabbarov said at the foundation laying ceremony for the plant, Trend reports.
“Today’s groundbreaking ceremony is an example of comprehensive cooperation between Azerbaijan and Türkiye,” he noted.
The minister reminded that Türkiye is one of Azerbaijan's largest trading partners.
“We have set a course for industrialization, to develop the non-oil sector of the economy, ” Jabbarov added.
Gen Pharma Caucasus Manufacturing Operations LLC received the status of a resident of Azerbaijan's Pirallahi Industrial Park, thus bringing the number of the industrial park residents to six.
The company will produce high quality medicines in 42 names and various forms (pills, capsules, gelatin capsules, powder suspension, syrup, etc.) and dosage on the territory of 7.8 hectares of the industrial complex.
The enterprise with an investment cost of 59.3 million manat ($34.88 million) will employ 165 people. The enterprise with annual production capacity of 50 million packages will be built within the framework of trilateral cooperation between Azerbaijan Investment Company OJSC Gen Ilac ve Saglik Urunleri Sanayi ve Ticaret A.S. and "Sia Pharmaceuticals" of Türkiye.
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