The foundation of the second pharmaceutical plant Caspian Pharmed was laid in Pirallahi, Baku. An agreement between the shareholders of Azersun Holding and Iranian TPICO Holding was signed with the participation of the Minister of Economy of Azerbaijan Shahin Mustafayev and the Minister of Labor and Social Welfare Ali Rabia.
In the joint venture, the initial investment amount is 20.6 million dollars, a 25% stake owned by the Azerbaijan Investment Company, 26% of Azersun Holding and 49% of the Iranian company TPICO.
In the primary stage, the plant will produce drugs of 84 names. Annual industrial power of the plant in the first phase will amount to 201 million tablets and capsules.
The plant will have 90 jobs.
Note that on November 2, 2016 in the Industrial Park Pirallahi the foundation of the first Hayat Pharm pharmaceutical plant was laid, which is a joint Azerbaijani-Russian enterprise. ---71D
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