Some 170 mln birr worth modern pharmaceutical factory inaugurated
Addis Ababa, February 7, 2013 (WIC)- A modern pharmaceutical factory constructed in collaboration with Meditech Ethiopia and the United Arab Emirates (UAE) based Julphar Company with 170 million Birr was inaugurated here Wednesday.
Speaking on the occasion PM Hailemariam Dessalegn said construction of the factory indicates the growing relation between Ethiopia and the UAE. PM Hailemariam said the factory will significantly contribute in import substitution.
He said utmost efforts are underway to substitute import medicines during the Growth and Transformation Plan period of the country.
The Premier said the government will provide the necessary support to the factory and called on UAE investors to make use of the existing favorable investment situation and engage in various development activities in Ethiopia.
Julphar Company Chief Executive Officer (CEO) Ayman Saleh also said the factory is equipped with state-of-the-art technology enabling production of Julphar products not only for the local market but also across the African continent.
The CEO said upon going fully operational the plant will produce per annum 25 million bottles of suspension and syrup, 500 million tablets and 200 million capsules.
The factory has created 500 jobs. Meditech Ethiopia CEO, Dr. Mohammed Nuri also said construction of the plant is finalized within a year.
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