SAFFARM, a new resident of the Arctic Zone of the Russian Federation (AZRF), will launch a large-scale pharmaceutical complex in Murmansk in the fourth quarter of 2027. The new enterprise will be aimed at the production of general, hormonal and oncological drugs, the products will replace the import of such drugs to Russia. According to the agreement with the Corporation for the Development of the Far East and the Arctic (KRDV), more than 9.2 billion rubles will be invested in the project, including Indian capital, 280 people will get jobs.
"The pharmaceutical complex will provide the production of dosage forms mainly for hormonal, general and oncological purposes. Modern equipment will allow the production of medicines in the form of tablets, capsules, injections, ointments, drops and other forms. The total number of drugs will amount to 1.3 billion units per year, in the future it is possible to expand production volumes. We will be able to meet domestic Russian demand by supplying medicines to public hospitals and selling through medical stores, and, if necessary, we will be able to export about 10% of the total production to the CIS countries," said Kumar Divesh, CEO of SAFFARM LLC.
He added that during the implementation of the project, a one-storey building of a pharmaceutical complex with an area of 14.5 thousand square meters will be erected, which will be equipped with the necessary production equipment. The enterprise is planned to be put into operation by the end of 2027. Tax benefits, administrative preferences of the Russian Arctic regime, as well as assistance and support from the Ministry of the Development of the Russian Far East, the KRDV and regional authorities will help to implement a significant project for both Russia and India on schedule with the most effective investment of funds.
"The binding agreement on the establishment of a new pharmaceutical plant in the Arctic with the participation of Indian capital was the development of previously reached agreements with the government and business circles of the Republic of India. The state support measures created in the Arctic zone of the Russian Federation have equally favorable conditions for both Russian and foreign investors to work, allow them to launch important production facilities for Russia, create jobs, and improve the quality of life of people in the North. We continue to develop investment cooperation with India, it is important to increase the number of projects being implemented in the Arctic and the Far East, there is potential for this," said Russian Minister for the Development of the Far East and the Arctic Alexey Chekunkov.
Recall that the agreement on cooperation in the construction of a pharmaceutical complex during the St. Petersburg International Economic Forum 2023 in the presence of the head of the Ministry of Regional Development of Russia Alexey Chekunkov was signed by KRDV, SAFFARM company and the government of the Murmansk region.
"Together with the regional authorities, we will assist the new resident of the Russian Arctic in obtaining a land plot, ensure the application of tax benefits and administrative preferences for a project aimed at strengthening the pharmaceutical security of the country. In the Far East, Indian investors, using state support tools, have already successfully implemented a number of projects, it is important to create such success stories in the Arctic, this will help more actively attract foreign capital in general and Indian in particular in the future," said Nikolai Zapryagaev, Director General of the KRDV.
"For 3 years, there have already been 204 residents of the Russian Arctic in the Murmansk region. We remain the leaders in their number in the entire Arctic zone. 30 billion rubles is already what residents have invested. And the total declared volume of investments exceeded 160 billion rubles, - said the Governor of the Murmansk region Andrey Chibis. - It is especially important that the benefits of the AZRF regime interested representatives from countries friendly to Russia. In particular, the company "SAFFARM". Only in June, at the SPIEF, we signed an agreement with Indian investors for a pharmaceutical company to enter the territory of the Murmansk region, and today they have become a resident of the Russian Arctic to implement their project to build a whole complex for the production of medicines with an investment volume of more than 9 billion rubles."
According to the KRDV, today 645 projects with the volume of declared investments of 817 billion rubles are being implemented in the Russian Arctic with state support, more than 24.3 thousand jobs are being created. Residents of the Russian Arctic have actually invested almost 100 billion rubles in the economy of the macroregion and created jobs for 7.4 thousand local residents.
/ Ministry of Information Policy of the Murmansk Region according to the Corporation for the Development of the Far East and the Arctic /
Photo - Corporations for the development of the Far East and the Arctic.