BRIEF—Sultan of Johor invests in Sri Lanka pharma manufacturing zone

The Sultan of Johor has teamed up with Malaysian entrepreneur Patrick Lim Soo Kit to build an industrial zone for pharmaceutical manufacturers in Sri Lanka, reports The Straits Times.

According to a press statement, Pharma Zone and the State Pharmaceuticals Manufacturing Corporation of Sri Lanka (SPMC) have agreed to build Sri Lanka's first exclusive pharmaceutical manufacturing zone in the Welipenna area of the Kalutara district.

The pharmaceutical manufacturing zone will provide Sri Lankan pharmaceutical companies with sufficient land and basic infrastructure facilities for their plants with a view to achieving the Sri Lankan government's target of localizing production of essential pharmaceutical items to a value of $100 million (S$133 million), thus saving valuable foreign exchange.