Russia's PharmSintez to invest $160 million in construction of new plants

20 September 2011

PharmSintez (LFE: RU), one of Russia’s leading pharmaceutical companies, plans to significantly expand its presence in the domestic market in the near future through the construction of new production facilities.

According to Vikram Singh Puniya, chairman of the company, by 2014 PharmSintez plans to invest up to 3.1 billion roubles ($100 million) in the construction of three new plants in Russia. One of the future facilities is expected to be located in the city of Irkutsk (Siberia), whith its official launch scheduled for May 2012.

At the same time, the company plans to invest 2.1 billion roubles ($60 million) in the construction of a plant in St Petersburg, which is expected to be one of the largest facilities in Europe and will specialize in the production of anticancer drugs.

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