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ABACUS to build Drug Plant
By siliconindia
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Tuesday, 12 September 2006, 19:30 IST |
2 Comments
Uganda: ABACUS Parenteral Drugs is getting ready to make a change in the medical condition of the people in Africa as they plan to set up a $12 million drug plant near Mbalala in Mukono by November this year.
Facilitated by the The Eastern and Southern African Trade and Development Bank, the plant will be in charge of making intravenous drugs, water for injections and ion drops. The plant will employ 200 people and also export some of the drugs to the neighboring countries.
Semakula Kiwanuka, State minister for Investment, extended the support of his government to the investment for this project while announcing added incentives. The machinery will cost $6million, 4,000 square meters of building another $5million and the working capital an added $1million.
The firm's directors Ramesh Babu and Rangaraj Iyengar said that they have already secured 35 acres near Mbalala on Jinja Road for the factory.
The factory will produce 25 million bottles of intravenous fluids, 40 million bottles of water for injections and 10 million bottles of water for the ion drops," Babu said adding that no company in the region is making the products.