AvvaRus plans to invest 100 million rubles in pharmaceutical manufacturing

AvvaRus, a subsidiary of AVVA Pharmaceuticals, a Swiss company, wants to build a plant for pharmaceutical substances in Slobodino Industrial Park (Kirov region).

“The company plans to implement a project aimed at import substitution of active pharmaceutical substances based on animal and vegetable materials. The project involves developing the technology and organizing the manufacturing of substance,” said Alexey Egorov, General Director of Avva Rus.

The company expects to invest up to 100 million rubles in the project, of which roughly a half will come from borrowed funds and another half will be contributed by the company, said the General Director.

AvvaRus also intends to receive subsidies and compensate the costs of technology development, control, measurement and testing services, lease payments and interest on loans for the purchase of equipment.

AvvaRus plans to start the production in three to five years after the industrial park will be connected to all necessary utilities and communications. This time will be required for preparing and approving design estimates, obtaining permits and completing construction.

The General Director stressed that the final decision will be made after addressing the issues related to infrastructure and necessary permits.

SOURCE: gmpnews.ru
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