Cadila opens $10 million Ethiopia plant

DUBAI: India's Cadila Pharmaceuticals has opened its first overseas formulation manufacturing facility in Ethiopia, for which the Drug Administration and Control Authority (DACA) had given its nod.

Cadila Pharmaceuticals (Ethiopia) is a joint venture between Cadila Pharmaceuticals India and Almeta Impex, Ethiopia. The $10 million plant has the capacity to manufacture 390 million tablets, 165 million capsules and 144 million litres per year.

Ethiopian Minister of Trade and Industry Girma Birru inaugurated the facility on Saturday, a statement from Indian embassy in Addis Ababa said.

Indian Ambassador to Ethiopia Gurjit Singh, Cadila India chairman I A Modi and Eyessus Work Zafu, president, Addis Ababa Chamber of Commerce were also present on the occasion.

Speaking at the function, the minister said this joint venture was a milestone in the relationship between India and Ethiopia through the private sector.

According to official figures, 262 private Indian companies had secured licenses to set up industries in Ethiopia, of which 71 are already operational and other projects are under implementation with a total investment of 4.5 billion Ethiopian Birr.

He hoped that Ethiopia would get more investments from Indian companies as the country is now an emerging economy in Africa with a growth rate of approximately 10 per cent a year.