Australian Solagran to invest $50 million in construction of pharma plant in Russia
Australian pharmaceutical firm Solagran (SLA: AU) is planning to start the construction of a new plant in the Russian Tomsk region (Siberia), which will focus on the production of drugs, based on pine-needle.
According to Oksana Kozlovsky, deputy governor of the Tomsk region, the new plant will be located in a special economic zone, which is known as "Tomsk." Construction works will start this year and expected to be completed by 2013.
Total cost of the project is estimated at $50 million. The company will receive preferences for the implementation of the project from the Tomsk government in the amount of $13.5 million.
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