Work starts on Japan’s medical project

Japan’s Nipro Pharma Group on Tuesday broke ground for a plant specialising in medicine and medical equipment production in VSIP Hai Phong in the northern port city of the same name.

With total investment of $250 million, the Japanese project is considered the largest industrial scheme in VSIP Hai Phong at present.

The first phase of the project, covering about two hectares, is set for completion at the end of August next year and the plant will be put into operation in April 2015, employing around 100 workers.

The Japanese group plans to produce high-quality injection and intravenous drugs at the first factory of the group outside Japan, with the products to be shipped to global markets in the future.

This is the second most capital-intensive project Hai Phong has awarded an investment certificate for this year, after the Japanese-invested tire producer Bridgestone plant that started construction last month.

Hai Phong in the year’s first half received total newly registered foreign direct investment capital of $926 million, up by 3.5 times from the year-ago period, with most investors coming from Japan.

Nipro Pharma is a major drug producer in the world, earning an estimated $7 billion in the net consolidated sales for the fiscal year until March 31.

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Category: Business