Oryx Biotech to invest $300mn at Summit Technopolis for bio plant
August 11, 2020, 09:31 PM
by UNB NEWS
Publish- August 11, 2020, 09:31 PM
Oryx Biotech, a subsidiary of Oryx Biotech Holdings based in China, signed a tripartite agreement with Summit Technopolis and BHTPA for a biotech investment worth USD 300 million in Bangladesh.
Oryx will set up their Plasma Fractionation Plant in Block II of Summit Technopolis to produce plasma derivatives, also known as Lifesaving Therapeutics, and other related products, making it the first biotech investment in the country.
With a great need for plasma in the potential treatment of COVID-19, this is a timely investment for Bangladesh’s healthcare research and service sectors.
It is expected that about 2,000 high-value science graduates will be employed to produce therapeutics such as Albumin, Immunoglobulin and Coagulation factor VIII.
Muhammed Aziz Khan, Founder Chairman of Summit Technopolis, said “We’re pleased to activate the nation's first and largest biotech investment of about USD 300 million on 25 acres of land and building provided by Summit Technopolis. It’s most gratifying that this milestone plasma fractionation project which will open new horizons in Bangladesh’s development is happening in this auspicious year of Bangabandhu’s birth centenary.”
State Minister for Power, Energy and Mineral Resources Nasrul Hamid, State Minister for ICT Division Zunaid Ahmed Palak, ICT Division Senior Secretary N M Zeaul Alam and Managing Director of Bangladesh Hi-Tech Park Authority (BHTPA) Hosne Ara Begum witnessed the agreement signing, said a press release.