Johor’s Sultan Ibrahim Ibni Almarhum Sultan Iskandar, together with businessman Patrick Lim Soo Kit, has invested to develop a $100 million pharmaceutical manufacturing zone in Sri Lanka, The Star reported on Tuesday (Jan 9).
Sri Lanka’s first-ever exclusive pharmaceutical manufacturing zone in the Welipenna area of the Kalutara district will be built by the State Pharmaceutical Manufacturing Corporation of Sri Lanka (SPMC) and Pharma Zone.
Called Pharma Zone, the industrial area occupies 50 acres of land, and will facilitate local pharmaceutical manufacturers with sufficient land and infrastructure facilities, Ceylon Today reported.
According to the news website, the Sri Lankan government aims to localise the production of essential pharmaceutical items to a value of $100 million.
The industrial area will be run and administered by Pharma Zone under Lim’s leadership, while the setting and monitoring of standards will be carried out by SPMC and the Sri Lankan health authority.
“It is the fervent wish of Sultan Ibrahim, that this venture not only brings commercial prosperity to Sri Lanka but benefits the people by way of reduced pricing as well as the ready availability of drugs,” Mr Lim was quoted as saying in a press statement.