Pharmaceutical Manufacturers Chamber seeks BOI approval for new zone in Oyamaduwa

Wednesday, 14 December 2022 00:21 - - {{hitsCtrl.values.hits}}

Meeting held with CPMO and BOI officials

The Chamber of Pharmaceutical Manu-facturers Oyamaduwa (CPMO), the local investors of the “Suwa Siri Pura” pharmaceutical manufacturing zone in Oyamaduwa, Anuradhapura, recently had a discussion with the Board of Investment (BOI) officials where they requested the top management to consider registering the Oyamaduwa under the BOI.

The meeting was convened under the patronage of BOI Chairman Raja Edirisuriya, Director General Renuka M. Weerakone, Executive Directors, and the representatives from the CPMO at the BOI headquarters.

“Suwa Siri Pura” pharmaceutical manufacturing zone in Oyamaduwa, is dedicated to manufacturing medicines, medical consumables, and devices with the vision to fulfill the country’s pharmaceutical needs by 2024/2025 and explore potential export opportunities. Once this zone is in full swing, it will cater to 50% to 60 % of the pharmaceutical needs of Sri Lanka.

During the meeting, the CPMO investors highlighted the significance and advantage of obtaining BOI approvals, which will result in driving foreign direct investments into Sri Lanka. They also mentioned that the total investment of the project will be around Rs. 40 billion with 23 project plots out of which 11 plots have been already issued.

The 11 companies which have been so far selected to set up manufacturing facilities with lands being allocated at the zone are, Maliban Bio Ventures, George Steuart Health, Luxus Medi Line , Epion Health Care, Nu Life Biotech, Premium International Biologics, Blue Ceylon Investments, Neolina Holdings, Manchester Healthcare, Meditech and Nivarana.

The majority of the above are CPMO members and the manufacturers from this zone will significantly contribute to Sri Lanka becoming self-sufficient in pharmaceuticals. The State Ministry of Production, Supply and Regulation of Pharmaceuticals has awarded the development and management of the said zone to Spectrum Pharmatech Lanka.

Edirisuriya spoke positively about the matter and congratulated the CPMO for being the local partner of the pharmaceutical manufacturing zone in Oyamaduwa and commended the impressive effort in attracting 11 investors to invest in the zone.

Weerakone mentioned: “The BOI looks forward to facilitating both foreign and local investors and assures you of the continued support for investments in the country.”