Vhesheconombank co-finances construction of pharmaceutical plant

State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank) , www.veb.ru started to finance a project on the construction of a modern pharmaceutical plant to produce infusion solutions, parenteral nutrition solutions and dialyzed solutions. The funds were made available under a credit agreement signed by Vnesheconombank and LLC Sphera Farm in September of 2011. The total amount of investments in this production facility is estimated at 2.1 billion rubles, with Vnesheconombank’s commitment being 75.43%. The project provides for the construction of a pharmaceutical production-storage complex on the territory of a technopark in the Central Federal District of the Russian Federation in line with international production standards for medicines aimed at ensuring high quality and safety of medicines (GMP). The plant is to be put into operation in 2013. Rated capacity is scheduled to be attained in the second half of 2014.