Oryx to invest $300m to set up country’s first biotech plant

Staff Correspondent

12 August, 2020 12:00 AM printer

Oryx to invest $300m to set up country’s first biotech plant

BHTPA Managing Director Hosne Ara Begum, Summit Technopolis Managing Director Abu Reza Khan and Oryx Biotech Managing Director David Bo sign a tripartite agreement for setting up Bangladesh’s first bio-tech industry at Summit Technopolis at BCC auditorium in the capital on Tuesday. State Minister for Power, Energy and Mineral Resources Nasrul Hamid and ICT State Minister Zunaid Ahmed Palak were present on the occasion.

Bangladesh is set to enter a new era of biological technology with the establishment of the country’s first-ever plasma fractionation plant at Bangabandhu Hi-tech City in Gazipur.

Oryx Biotech will invest $300 million in phases to set up the plant.

Biotechnology is a commonly used technology in developed countries to produce biotech products used to treat many deadly diseases.

Oryx Biotech will establish the plant jointly with Summit Technopolis. China Biologic Products Holdings will provide technical support to the plant.

Bangladesh Hi-Tech Park Authority (BHTPA), Oryx bio-tech limited and Summit Technopolis limited inked a tri-party agreement on Tuesday to facilitate the establishment of the plant.

State Minister for Power and Energy Nasrul Hamid joined the agreement signing programme virtually as the chief guest. ICT Division Senior Secretary NM Ziaul Alam and Summit Technopolis Chairman Muhamamd Aziz Khan were special guests on the occasion.

BHTPA Managing Director Hosne Ara Begum and Summit Technopolis Managing Director Abu Reza Khan spoke while State Minister for ICT Zunaid Ahmed Palak chaired over the event held at ICT Tower in the capital.

BHTPA Managing Director Hosne Ara Begum, Summit Technopolis Managing Director Abu Reza Khan and Oryx BioTech Director Khondkar Munirul Islam signed the agreement on behalf of their respective sides.

Among others, Vice Chairman Farid Khan and Director Fadiah Khan, Oryx BioTech chief executive David Bo, Advisor Ahmadul Hoq and Managing Director Kazi Shakil were present on the occasion.

According to the agreement, Oryx will make an initial investment of $10 million in the new plant. The project will generate 2,000 high-value jobs as part of an investment series worth $300 million.

State Minister for ICT Zunaid Ahmed Palak said the foreign direct investment through Oryx Biotech is a signature occasion in MujibBarsho, the birth centenary of Father of the Nation Bangabandhu Sheikh Mujibur Rahman.

Summit Group Chairman Muhammad Aziz Khan said the initiative with open up a new window in the health sector in Bangladesh as Oryx showed courage to invest in human plasma in the pre-corona pandemic situation in 2019.

The plant will be capable of producing 1,200 tonnes of plasma annually as per the standards of the World Health Organisation (WHO) and other developed countries.

 


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