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Dhaka Tribune

Country gets $300m for first ever biotech investment

The plant will have the capacity of processing 1,200 tons of plasma annually at 20 plasma collection centres all over the country

Update : 11 Aug 2020, 09:10 PM

The country is all set to receive $300 million in investment in biotechnology for the first time ever.

Oryx Biotech, a subsidiary of Oryx Biotech Holdings based in China, will finance the amount in building up its plasma fractionation plant at Summit Technopolis at Bangabandhu Hi-Tech Park in Gazipur.

To this end, Oryx Biotech on Tuesday inked a tripartite agreement with Summit Technopolis and Bangladesh Hi-Tech Park Authority (BHTPA) in Dhaka.

The plant will have the capacity of processing 1,200 tonnes of plasma annually at 20 plasma collection centres all over the country.

Minister of State for Power, Energy and Mineral Resources Nasrul Hamid, Minister of State for ICT Zunaid Ahmed Palak, Senior Secretary of ICT Division N M Zeaul Alam, Managing Director of Bangladesh Hi-Tech Park Authority Hosne Ara Begum and Founder Chairman of Summit Group Muhammed Aziz Khan were present, among others, at the signing ceremony.

The plant aims to produce plasma derivatives, also known as life saving therapeutics, and other related products.

Aziz Khan said, “We are pleased to activate the nation's first and largest biotech investment of about $300 million on 25 acres of land and building provided by Summit Technopolis at Gazipur.

“It is most gratifying that this milestone plasma fractionation project, which will open new horizons in Bangladesh’s development, is happening in this auspicious year of Bangabandhu’s birth centenary,” he said.

With a great need of plasma in the potential treatment of Covid-19, the move is a timely investment for Bangladesh’s healthcare research and service sectors, the investing company said, and hoped that about 2,000 graduates would be employed to produce therapeutics such as Albumin, Immunoglobulin, Coagulation factor VIII, etc.

Managing Director of Oryx Biotech David Bo David Bo and his colleagues from China took part in the program virtually.

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