Indian investors mull new pharma plant in Crimea

The government of Crimea is negotiating with Indian investors on the possible construction of a new pharmaceutical plant in Crimea.

Head of the Crimean administration Sergey Aksyonov (pictured, front middle) told a news conference on 23 December that Crimea, which was subject to sweeping sanctions by the US, the EU and Canada earlier in the month, should produce its own medicines rather than import them.

"We have reached an agreement with the Indian side that we will jointly build a pharmaceutical plant," Aksyonov said, according to Russian news agency TASS. He added: "After a memorandum on the project was signed a delegation from India decided to visit Crimea. We insist that we should produce medicines ourselves, rather than import them from elsewhere."

Russia annexed Crimea from Ukraine following a referendum in March 2014.

A preliminary agreement on the construction of a pharmaceutical plant in Crimea was reached during a recent visit of a Crimean delegation to India.

"The negotiations will be continued during a visit of the Indian delegation to Crimea due soon," Aksyonov said.

Russia’s presidential envoy to Crimea, Georgy Mamedov, told TASS: "Crimea as a member of the Russian Federation has been looking for partners for the realization of investment projects on its territory, exchange of opinions and creation of a convenient business environment."

Story for GCR? Get in touch via email: [email protected]

Latest articles in News