Prime Minister Sheikh Hasina will unveil the plaque of Active Pharmaceutical Ingredients (API) Park project in Gajaria upazila under Munshiganj district next month, aiming to fulfill the longstanding demand of the country’s pharmaceutical companies for a specialized park.
Industries Minister Dilip Barua said this at a MoU signing ceremony at the Industries Ministry on Wednesday.
Earlier, Bangladesh Association of Pharmaceutical Industries (BAPI) and Bangladesh Small and Cottage Industries Corporation (BSCIC) signed the MoU to successfully implement the API Park.
Health Minister Dr AFM Ruhal Haque, BAPI President Salman F Rahman, Industries Secretary Mohammad Moinuddin Abdullah, BSCIC Chairman Shyam Sunder Sikder and BAPY Secretary General Abdul Muktadir were, among others, present.
The Health Minister said Bangladesh is now exporting pharmaceutical products to 86 countries after meeting the country’s 98 percent demand.
Once the API Park project is implemented, Bangladesh will be able to produce raw materials for the industry, he added.
The BSCIC under the Ministry of Industries has taken up the project in a bid to facilitate production of basic raw materials locally, enhance local and foreign investment and boost foreign exchange earning through exports.
The project is being implemented on 200 acres of land with an estimated cost of Tk 331.86 crore.
Work on land acquisition and land development including land-filling has already been completed.