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Sinovac To Set Up $200 Million Plasma Medicine Production Factory In Punjab

  • Posted on November 06, 2022
  • News
  • By Haroon Ameen

Sinovac has decided to invest $200 million in setting up plasma medicine manufacturing factory in Punjab

Sinovac Global, a Chinese company, is all prepared to establish a production plant for plasma medicine products in the China–Pakistan Economic Corridor (CPEC) industrial zone in Faisalabad, Punjab. 

To discuss the project, Vice-President (VP) of Sinovac Global, Gao Qiang had a meeting with the Chief Minister (CM) of Punjab, Chaudhry Pervaiz Elahi, in his office and offered to invest $200 million (Rs 45 billion). 

The meeting was attended by the Chairman of Dean Holdings, SM Naveed, and the Chairman of Fazal Din & Sons, Suhail Ahmed Kabir, together with the Secretaries of Industries, Primary & Secondary Health, and Specialized Healthcare, as well as a delegation from Sinovac. 

The details revealed that the Chinese company will also export goods costing $500 million and will be provided land in Faisalabad’s Industrial City. 

In this regard, Punjab CM said that the company will be provided all essential facilities, as it will not only benefit the province but all of the country. 

Moreover, he said that it will also generate employment opportunities and will set a new model for bilateral ties between both countries. Elahi also appreciated the company’s devotion to spending billions of rupees and stated that its decision to launch this facility is a defining moment for Pakistan. 

While concluding, he acknowledged Sinovac for providing Pakistan with the vaccines during the peak time of the coronavirus pandemic. 

In another meeting, Pervaiz Elahi paid tribute to late journalist Sadaf Naeem’s services in journalism and stated “We cannot bring her back but will continue to take care of her family in every way. We are deeply saddened and share your grief”. Sadaf Naeem was a devoted and professional journalist and her services will be remembered forever, he added. 

CM Elahi expressed his deepest sympathies with Sadaf’s family and offered fateha for the departed soul. He presented a Rs 5 million cheque to her family as financial assistance. The minister also announced government jobs for the journalist’s daughter and husband. 

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Haroon Ameen

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