Prospect of Api Park in Bangladesh

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Assignment on:

Prospect of API Park in Bangladesh

Submitted To:

Md. Razibul Habib

Lecturer

Department of Pharmacy

Submitted By:

Rabita Israt 2008-3-70-047

Sonia Kamal 2008-3-70-095

Zinia Mosharraf 2008-3-70-042

Md. Shahidul Islam 2008-3-70-096

Mohammad Kawsar Manik 2008-3-70-034

Date of Submission: 24th May, 2012

Introduction
The significance of pharmaceutical industry is rising in line with the increasing number of population. Bangladesh has a huge potential in pharmaceutical manufacturing and export with its skilled manpower and cutting-edge production facility. An API (Active Pharmaceutical Ingredient) Park has been the longstanding demand of country’s pharmaceutical companies. So now an active pharmaceuticals ingredient (API) industrial park will be set at Gojaria Upazila of Munshiganj some 37 kilometers southeast of Dhaka, to co-operate the entrepreneurs of pharmaceutical sector. The Park would meet local demand and boost export of APIs and drugs. The API Park would make the country’s pharmaceutical industry cost effective and more competitive globally to help increase export of quality pharmaceuticals. The Park will secure long-term growth for the country's pharmaceutical sector. The park is expected to draw Tk 20 billion investment and create more than 20,000 high-paid jobs. Thus pharmaceutical sector of Bangladesh is ready to take the opportunity of the next wave of globalization.

Background
According to the Bangladesh Association of Pharmaceutical Industries (BAPI), more the 90 per cent of the medicine raw materials used by the local manufacturers are sourced from India, China and some developed nations. Over the last decade BAPI has persistently made demand for API Park where they can set up plants to produce drug raw materials in a bid to cut import and build a vital back-ward linkage to one of the most vibrant industries of the country.

The project was first undertaken in 2008, but was later extended by one year due to complication in land acquisition. The construction work of the park was initially scheduled to be inaugurated formally by Prime Minister Sheikh Hasina on June 3, 2010 but it was deferred following complexities over land acquisition. In November 2001, the then government came up with the idea but it had failed to implement the project. Later, in 2007 caretaker government took the decision for implementation of such a project in Munshiganj district.

The project is being implemented at a cost of Tk 323.50 crore on 200 acres of land. As per the revised project profile, there will be some 42 plots with Central Effluent Treatment Plant (CETP) in the park with incinerators for solid and liquid waste management where individual companies will set up API plants. Each plant will have approval from the Medicines and Healthcare products Regulatory Agency (MHRA) of the UK and the Food and Drug Administration (FDA) of the USA so that Bangladesh can produce quality products and export those to the global market without any hindrance. Currently the country’s pharmaceutical sector imports 60-70 per cent of its basic raw materials from the international market. The industry will be able to get rid of import dependency through producing basic raw materials locally.

An Overview of API park Construction
Bangladesh Small and Cottage Industries Corporation (BSCIC) is implementing the construction work. Due to the delay, the project cost of rose from Tk 2.13 billion to Tk 2.35 billion. Once 40 companies in the API Park are accommodated about 800-1000 generic bulk drugs are expected to be produced.

Name of the project: API (Active Pharmaceutical Ingredient) Industrial Park Project.

Project Implementation Period: January 2008 to December 2012.

Location of the project: Bausai, Upazila-Gazaria, Dist: Munshigonj (37 Kms. aways from Dhaka by Dhaka-Chittaging highway)

Estimated cost of the project: Gob 23350.00 lac

Enterepreneurs equity:...
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