Biotech plant being set up

Friday, 08 January 2010

The Star - by : ANTHONY LAW

THE first biotechnology fermentation plant in the country is on its way to becoming a reality following the signing of the joint venture agreement between PerakBio Corporation Sdn Bhd, Saamya Biotech (India) Ltd and Saamya Biotech (M) Sdn Bhd in Ipoh.

The agreement for the RM100mil plant, which will start production next year, was signed at the official residence of Perak Mentri Besar Datuk Seri Dr Zambry Abdul Kadir on Monday.

Sealed: Dr Reddy (left) and Hamidi exchanging documents after the signing ceremony. Behind them is Dr Zambry.

The agreement was signed by PerakBio chairman Datuk Hamidi Abu Bakar and Dr Y. Manevardan Reddy, the managing director of Saamya, witnessed by Dr Zambry.

Under the joint venture agreement, PerakBio, which is the wholly owned company of Perak Development Cooperation, will provide about 5ha of land at Pharmaceutical Park in Bandar Seri Iskandar, Perak Tengah, while Saamya will provide technology transfer and know-how on fermentation technology as well as cash injection of RM100 mil.

Dr Zambry said infrastructure work for the biotech plant had begun, adding that the investment by the Indian-based company showed the confidence of foreign investors in the state government.

“While you are in Perak, please feel comfortable to work with us,” Zambry told the Indian investors.

The joint venture will produce low volume high value active pharmaceutical ingredients of 750kg per year, Zambry said, adding that the products are 100% for export at RM50,000 per kilo.

The high value active pharmaceutical ingredients from the fermentation process are used to make the Tacrolimus & Rapamycin (immunosuppressive drug), Daunomycin( anticancer drug) and Hyaluronic Acid (pharmaceutical and cosmetic agent).

Dr Reddy said the biopharmaceutical manufacturing plant would eventually transfer biotechnology and the know-how on fermentation technology to the locals as well as provide jobs to the biotechnology university or college students.

Saamya Biotech (India) Limited, which is a public limited company listed on the Bombay Stock Exchange India, specialises in fermentation technology development and manufacturing activities.

“Saamya Biotech considers this joint venture with PerakBio as a significant stride in its globalisation move and believes that the joint venture will prove to be mutually beneficial in the years to come,” said Dr Reddy.

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