Indian pharma group opens Malta facility
A pharmaceutical factory belonging to India's Aurobindo Pharma Group was opened today by Finance Mnister Tonio Fenech, who said that the prospects for further growth of the pharmaceutical industry in Malta remained bright.
The €3 million factory at Hal Far is the first phase of a project which will see Aurobindo develop a packaging, warehousing and manufacturing hub in Malta.
Mr Fenech said it was significant for Malta that this investment was being done at a time of international financial crisis.
Aurobindo has 14 facilities around the world, with the Malta facilities including a large laboratory and lines for the producition of generics.
Mr Fenech said the pharmacuetical industry currently employed 1,000 people and, in view of ongoing investment proposals, that number was expected to grow to 1,500 in a short time.
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Amit Patel
May 15th 2009, 09:11
Firstly, maltese people should be happy and thankful that an Indian Pharma Company is looking forward to create jobs in their country (even if it is just a few hundreds). Secondly in the sluggish market they have bought 3 Mill Euros as FDI to matla's economy.
Thirdly, Not forgetting that the ready pharma products will be available in malta for the locals at a much cheaper rate.
And finally, Malta is gaining revenue as well as recognation from the global pharma industry.
Thereby creating a win-win situation for matlese.
Galea. L
May 14th 2009, 18:58
I hope that the investment will employ MALTESE workers and not Indian workers at miserly Indian wages.
K. Vella
May 14th 2009, 16:49
@Ludwig Flask
"Mr Fenech, how many Maltese will be employed with this €3 million investment?"
While it is always desirable that new job opportunities are created whenever possible, I'm sure that our economy can still benefit greatly from this particular FDI.
At least this proves that Malta is enjoying a competitive advantage in the pharmaceuticals industry. Our patent laws (more here: http://www.maltaenterprise.com/pharmaceuticals.aspx) have helped us reverse the effects of the globalisation of production... Otherwise, why would an Indian company (India had established itself as an offshoring centre of excellence before China took over in recent times) even consider moving part of its production to Malta?
c.camilleri
May 14th 2009, 16:27
@ Ludwig Flask. Is an investment of 3 million Euros not enough for you in this time of world economic slump? Even if one person is employed Malta would have gained just the same. We are hearing of factories closing down in other countries with thousands of workers laid off. Would something like that please you?
Ludwig Flask
May 14th 2009, 14:27
Mr Fenech, how many Maltese will be employed with this €3 million investment?