BINH DUONG (Biz Hub) — The Medochemie Far East Company under the Cypriot Medochemie Group broke ground for a new pharmaceutical plant in the Viet Nam-Singapore Industrial Park II A (VSIP) on Tuesday.

The industrial park is located in Tan Uyen Town in the southern province of Binh Duong.

Building the 44,700-square metre plant will cost of US$16.1 million and is scheduled to be completed by the end of this year. Once operations commence at the outset of 2016, its output will be used for domestic consumption and exports.

Earlier, Medochemie had invested $14 million to construct a plant across 18,400 square metres in VSIP II.

The Binh Duong province is currently home to 25 pharmaceutical plants certified by the "Good Manufacturing Practices" (GMP), accounting for 22.1 per cent of the country's pharmaceutical production. — VNS