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Healthcare Park To Be Built In Suzhou, China
Posted on 06/27/2007 06:04:29 | Link | Post Comment
by Richard Daverman, PhD
ChinaBio Today
Will Be Largest in China
The Suzhou International Healthcare Park Co. Ltd. is set to begin construction of the largest healthcare park in China, covering 200 hectares in the Wujiang Industrial Development Zone just outside of Suzhou.
Suzhou is a 45-minute train ride from Shanghai.
The company expects to spend 16 billion yuan ($2.1 billion) over the next three years to build facilities that will produce healthcare products.
The company has signed an agreement with the management committee of the industrial zone, leasing the land.
In the first phase of development, 700 million yuan ($92 million) will be spent to construct facilities over one-quarter of the space, 50 hectares. In the remaining space, standardized units will be built and leased to healthcare producers. All facilities are expected to be completed within three years.
The construction will be financed by a consortium of five banks. Other funding will come from foreign investors. So far, ten investors from Japan, the US and other countries have signed letters of intent with the company to produce healthcare products in the park.
Wujiang is a small city under Suzhou's jurisdiction. It currently has three main industries: textiles, telecommunications and IT. The healthcare initiative is aimed at diversifying this base.
RELATED READING:
- China Biotech Weekly Review: TCM Goes Mainstream
- China Biopharma Strikes Deal for Antiviral
- China Meditech Pays $3.3 Million for R&D Facility
ChinaBio Today is a regular contributor to BioHealth Investor
_____________
ChinaBio Today
Will Be Largest in China
The Suzhou International Healthcare Park Co. Ltd. is set to begin construction of the largest healthcare park in China, covering 200 hectares in the Wujiang Industrial Development Zone just outside of Suzhou.
Suzhou is a 45-minute train ride from Shanghai.
The company expects to spend 16 billion yuan ($2.1 billion) over the next three years to build facilities that will produce healthcare products.
The company has signed an agreement with the management committee of the industrial zone, leasing the land.
In the first phase of development, 700 million yuan ($92 million) will be spent to construct facilities over one-quarter of the space, 50 hectares. In the remaining space, standardized units will be built and leased to healthcare producers. All facilities are expected to be completed within three years.
The construction will be financed by a consortium of five banks. Other funding will come from foreign investors. So far, ten investors from Japan, the US and other countries have signed letters of intent with the company to produce healthcare products in the park.
Wujiang is a small city under Suzhou's jurisdiction. It currently has three main industries: textiles, telecommunications and IT. The healthcare initiative is aimed at diversifying this base.
RELATED READING:
- China Biotech Weekly Review: TCM Goes Mainstream
- China Biopharma Strikes Deal for Antiviral
- China Meditech Pays $3.3 Million for R&D Facility
ChinaBio Today is a regular contributor to BioHealth Investor
_____________
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