Nelson Mandela Bay is set for a major economic boost with Aspen Pharmacare announcing a R3.4bn capital spend in a new manufacturing facility in the Metro.
This will be the single biggest pharmaceutical investment ever in the country, according to Aspen senior executive, Stavros Nicolaou.
The announcement was made on Friday at President Cyril Ramaphosa's three-day investment conference underway in Sandton.
Nicolaou said they would be building a niche, hi-tech facility to manufacture sterile anaesthetics, which will have both domestic and export opportunities.
He said their decision was supported by the President’s commitment to establishing a more predictable, stable investment environment and reducing the regulatory burden in key economic sectors.
He said Aspen's Port Elizabeth site will be transformed into one of the world’s leading global hubs for anaesthetic products and will provide a tremendous economic boost for the Eastern Cape.
