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Omninvest gets green light for $100 mln vaccine plant in Uzbekistan

An investment by Hungary's Omninvest in a $100 million vaccine plant in Uzbekistan has been given the go-ahead, business daily Világgazdaság reported, citing state-owned drug maker Uzfarmprom.

Uzbekistan's president has approved the partnership agreement on the plant signed between the government and Omninvest at the end of 2009, the paper said.

The vaccine plant will be built between 2010 and 2013, but production is expected to start in the summer of 2012. About 70% of the vaccines made at the plant will be exported. The rest will meet domestic demand.

The project company for the plant, Omninvest Asia, has been granted a five-year tax and customs holiday.

Omninvest, which supplies the vaccine for the H1N1 flu virus in Hungary, declined to comment on the news when asked by MTI. (MTI – Econews)