BAKU, Azerbaijan, Sept. 17
By Fakhri Vakilov – Trend:
Pakistani pharmaceutical company Citi Pharma Limited is preparing to start building a plant in Uzbekistan, Trend reports citing Business Recorder.
The cost of the construction is $3 million, of which the company will provide $1 million of its own funds, while Uzbekistan and international banks - the remaining $2 million.
The company signed an agreement with the authorities of the Uzbekistan's Namangan region to establish a subsidiary. Citi Pharma intends to start production next year.
The authorities provided the company with 5 hectares of land for construction, and also exempted the future enterprise from taxes for 10 years.
The plant is expected to produce syrups, liquid and other preparations for the Uzbek market. The active ingredients for the drugs will be supplied from Pakistan. Citi Pharma will also sell materials to other Uzbek pharmaceutical companies.
---
Follow author on Twitter:@vakilovfaxri