Chinese company to set up pharma ingredients factory in Bepza EZ

Chinese company Crescent Hi Tech is going to set up an active pharmaceutical ingredients (API) manufacturing industry in the Bangladesh Export Processing Zones Authority (Bepza) Economic Zone with an investment of $7.6 million.

This will be the first API factory in the economic zone located in the Bangabandhu Sheikh Mujib Shilpa Nagar in Chattogram. An agreement was signed in this regard between the two parties yesterday.

Ali Reza Mazid, member (investment promotion) of Bepza and Xie Weimin, chairman of Crescent Hi Tech, signed the agreement on behalf of their respective organisations. Bepza Executive Chairman Abul Kalam Mohammad Ziaur Rahman was present at the signing ceremony.

The company will produce 315 tonnes of 1.4-Dihydroxy Anthraquinone, 189 tonnes of 1.4-Diamino Anthraquinone, 661 tonnes of Glycuresis 26 and 53; 629 tonnes of Hepatitis C 30 and 27 annually. More than 2,000 Bangladeshis will get employment opportunities in this factory, according to a press release.

Bepza Executive Chairman said this API manufacturing industry is a new addition among the lease signee industries of the Bepza EZ. "The Bepza gives highest priority on product diversification to reduce single dependency on textile and garments products and encourages electrical and electronics, software, renewable energy etc industries to enrich export basket."

Xie Weimin, chairman of Crescent Hi Tech, said they will start the construction work of the factory very soon. He said the active pharmaceutical ingredients produced in their factory will be exported directly to the USA.

The Bepza has so far approved 25 enterprises to establish industries in the Bepza EZ and the total proposed investment of these enterprises has already exceeded $0.5 billion.