Henan Zhonyuan Pharmaceutical Factory Gets New Lease Of Life
This article was originally published in PharmAsia News
Henan Investment Group and Zhengzhou municipal government have signed an agreement to put up 490 million yuan to buy the Henan Zhongyuan Pharmaceutical factory. The plant could manufacture up to 5,000 tons of vitamin C, but due to facilities and approval issues, had ceased operations since 1996. The Zhengzhou government took on the debts of the beleaguered investors and paid off World Bank loans to reactivate the project. It has found Zhengzhou Tuoyang Industrial., a manufacturer of food additive E-Vc (sodium erythorbate), to lease a sizable floor space. Industry observers are divided on the success of reviving the factory. (Click here for more - Chinese Language)
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