Biotech Giant opens branch in Iskandar Malaysia.
September 11, 2011 14:00 PM
A RM500 Million Boost For Malaysia's Biotech Sector
JOHOR BAHARU, Sept 11 (Bernama) -- India's biotechnology giant, Biocon Ltd, is to set up a RM500 million plant in Iskandar Malaysia, which will enhance the country's reputation as a world class player in the making in the sector.
The Bangalore-based Biocon, with it's 33-year old history in biophamarceutical manufacturing, expects the plant with a Research and Development (R&D)centre in Bio-XCell, to be fully operational by 2014 with the capacity to offer 600 jobs.
Biocon's commitment, is seen as the first step towards the government's efforts, to make Malaysia a leading biotechnology manufacturing centre.
In fact, things are looking up for the biotechnology sector, with talks underway with four other companies, from France, the United States and South Korea, which intend to set up Bio-Xcell manufacturing facilities in the country.
A ground breaking ceremony was held here on Saturday evening to mark the commencement of Biocon Ltd's project via its local company, Biocon Sdn Bhd.
The event was attended by Johor Mentri Besar Datuk Abdul Ghani Othman, the chairman of Bio-Xcell and also the Chief Executive Officer of Malaysian Biotechnology Corporation, Datuk Dr Mohd Nazlee Kamal.
Also present was Kiran Mazumdar-Shaw, the chairman and managing director, of Biocon Ltd.
Malaysian Biotechnology Corporation is a body set up by the government to promote the industry.
Mohd Nazlee said that the corporation is looking at an estimated RM10 billion investment target and 300,000 jobs by 2020.
"We are optimistic that things will turn out well. With the incentives provided by the government for the biotechnology sector and given Malaysia's resources such as manpower and water supply, we are confident of meeting our target," he added.
That too is exactly the reason why Biocon Limited chose Iskandar Malaysia and Johor its first foray outside India.
"We had a look at three or four destinations in Asia but in the end, we picked Malaysia. The geographical location, facilities and cost effectiveness, were the compelling reasons for choosing Johor.
"In short, what Malaysia with it's business friendly environment has to offer, was too good to resist," said Kiran.
-- Bernama
We provide (subscription-based)
news coverage in our Newswire service.
Back Top
Subscribe to:
Post Comments (Atom)
View All My Posts Here
-
►
2015
(4)
- ► March 2015 (1)
- ► February 2015 (3)
-
►
2014
(191)
- ► December 2014 (2)
- ► November 2014 (8)
- ► October 2014 (8)
- ► September 2014 (6)
- ► August 2014 (51)
- ► April 2014 (5)
- ► March 2014 (10)
- ► February 2014 (19)
- ► January 2014 (20)
-
►
2013
(175)
- ► December 2013 (12)
- ► November 2013 (7)
- ► October 2013 (12)
- ► September 2013 (7)
- ► August 2013 (31)
- ► April 2013 (20)
- ► March 2013 (8)
- ► February 2013 (13)
- ► January 2013 (18)
-
►
2012
(132)
- ► December 2012 (43)
- ► November 2012 (11)
- ► October 2012 (7)
- ► September 2012 (31)
- ► August 2012 (20)
- ► March 2012 (1)
- ► January 2012 (5)
-
▼
2011
(226)
- ► December 2011 (10)
- ► November 2011 (11)
- ► October 2011 (8)
-
▼
September 2011
(24)
- Singapore Stock Watch List - Update 2 - 29 Septemb...
- Takeover Bids from PNB on SP Setia
- Time to start accumulating stocks slowly
- My Stock Portfolio Update
- Be Aware of a Company which Growth in Earnings is ...
- How to Find Hidden Gems?
- Chip Eng Seng News - INCORPORATION OF SUBSIDIARY A...
- How do you define a good stock a.k.a. company?
- Things related to Invest in Singapore Stocks with ...
- Nirvana - Funeral Business
- Small Personal Sharing Session
- ARA Asset Management CEO Talk
- Singapore Stock Market Movement
- CFA is Just one of the ways to know more about inv...
- REITs
- Iskandar Malaysia News - 11 September 2011
- Always try to diversify your income sources
- My Personal Portfolio Update - September 2011
- Always Treat the People Around You Nicely
- How Car Insurance Business Works?
- Ipoh and Taiping
- Why a Contrarian Can Always Buy Low Sell High?
- Investment Strategy - General & Specific
- Enjoy Your Life - Do the Things You like to Do
- ► August 2011 (48)
- ► April 2011 (17)
- ► March 2011 (10)

No comments:
Post a Comment