Opal Bio Pharma (OBP), a pharmaceutical company in Oman, has begun the construction of the country’s first factory dedicated to manufacturing essential medicines and vaccines.
The foundation stone for this groundbreaking facility was laid at Khazaen Economic City, with an estimated cost of OMR60 million ($156 million), according to a report by Times of Oman.
Spanning an area of 37,000 square meters, the factory’s construction will occur in two phases, with the second phase costing approximately OMR60 million.
The implementation of the project is expected to be completed within two years. The facility is projected to commence production in the final quarter of next year, marking a major milestone for the country’s healthcare industry.
Oman’s emergence in the pharmaceutical industry
The primary objective of this project is to establish local production capabilities for vaccines and medicines, aiming to reduce dependence on imports, particularly during times of crises and pandemics.
By boosting domestic production, Oman aspires to achieve drug security and strengthen its healthcare infrastructure.
The Chairman of the Board of Directors of Opal Bio Pharma said that the factory, the first of its kind in the Sultanate and the Middle East region, will not only cater to the local market but also export vaccines and vital medicines worldwide.
This landmark achievement positions Oman as a significant player in the global pharmaceutical industry.
Souce:https://www.arabianbusiness.com/industries/healthcare/oman-plans-new-global-vaccine-drug-development-factory-report