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Ethiopia - Pharmaceutical factory built with 90 million birr inaugurated

September 24, 2007

Addis Ababa, Ethiopia (WIC) –A pharmaceutical factory built with 90 million birr in Akaki Woreda of East Shoa Zone was inaugurated yesterday.

Speaking on the inaugural ceremony, Minister of Trade and Industry Girma Birru,said the factory built by an Indian investor would help reduce the pharmaceuticals the country imports, besides consolidating the Ethio-India relationship in the private sector.

He further said the establishment of the factory would contribute to import substitution and growth of domestic trade. The factory could also export drugs to neighboring countries and members of the Common Market of Eastern and Southern Africa (COMESA).

According to the minister,262 Indian companies with a registered capital of 4.5 billion birr were licensed, out of which 71 went operational, 11 are under execution and 180 in pre-implementation stage.

A plan has been set to raise the bilateral trade relationship of the two countries to USD 500 million by the year 2010,he said, adding that the government of Ethiopia would bolster its support to Indian entrepreneurs.

Indian Ambassador to Ethiopa, Mr Gurjit Singh, on his part said the factory would have significant contribution to the health sector of the country.

The construction of the factory would also create transfer of knowledge and jobs, the ambassador indicated, further expressing his gratitude to the government of Ethiopian for its cooperation in attracting Indian investors.

Chairman of the factory, Cadila Pharmaceuticals PLC, I.A Modi said the factory has been supplying its produces to Ethiopia for many years and the aim of the factory is therefore to provide quality medicine at affordable price.

He said the factory has the capacity to manufacture 390 million tablets,165 million capsules and 1.44 million liters liquid medicine annually.

The factory that manufactures 14 types of pharmaceuticals, including antiretroviral drugs, has created jobs to over 100 people, he said.

Cadila Pharmaceuticals PLC is a joint venture between Cadila Pharmaceuticals Ltd India, and Almeta Impex PLC Ethiopia.

Government officials, COMESA member countries ambassadors and invited guests attended the inaugural ceremony.