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BioXCell in discussions with 10 more potential foreign investors
The Star I Business I 1 November, 2011
By ZAZALI MUSA
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NUSAJAYA: Malaysian BioXCell Sdn Bhd is in discussions with 10 more foreign biotechnology companies which are planning to invest in BioXCell here.
Chief executive officer Rizatuddin Ramli said the investors had shown serious commitment to set up operations here.
The some of the companies, from Europe, India, South Korea and the United States, were public-listed entities.
“The new investments in BioXCell are worth several billion ringgit,” Rizatuddin told reporters during a media tour to the BioXCell site yesterday.
Keen interest: Rizatuddin (centre) and senior officials of the company looking at the model of BioXCell @ Nusajaya which has secured RM750mil in investments from four foreign companies so far.
He said the investments in the technology park in Iskandar Malaysia would be realised within the next few years.
Rizatuddin declined to reveal the names of the companies.
Since its launch in May 2010, BioXCell has secured a combined RM750mil in investments from Indian companies Biocon and Agila Specialities, France's Metabolic Explorer and US-based Glycos Biotechnologies.
The company had invested close to RM450mil on infrastructure and construction work on the project which has gross development value of RM1.5bil over 10 years.
“Work on the key components of the park is progressing well and are expected to be completed in the third-quarter of 2012,” said Rizatuddin.
The components are the central utilities facility which would cater to the provision of steam, chilled water and waste water management.
Rizatuddin said the Nusajaya biotechnology park differed from other biotechnology parks in the country as it focused on manufacturing as well as research and development activities.
BioXCell, a biotechpark on 32.37ha in the southern industrial and logistics clusters is being developed by Malaysian BioXCell.
UEM Land Holdings Bhd holds 40% equity in the latter with the remaining 60% held by Malaysian Biotechnology Corp Bhd.