Saudi-based Al-Jomaih Group plans to invest up to RM500 million in Malaysia's halal pharmaceutical and healthcare industry.
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said so far, the group had invested RM286 million in two projects in the Enstek Halal Park, Negeri Sembilan.
He said AJ Biologics Sdn Bhd, an AJ Pharma Holding's investment company which is a subsidiary of the Al-Jomaih Group, would invest RM160 million to manufacture pharmaceutical and nutraceutical products.
Another wholly-owned subsidiary of AJ Pharma Holding, AJ Research and Pharma Sdn Bhd, had invested RM126 million in a research-driven project for the production of high quality pharmaceutical and consumer health products, he said when officiating the Halal Initiatives in Healthcare Industry Forum here today.
Ahmad Zahid said AJ Biologics would set up the first vaccine formulation, fill and finish state-of-the-art facility in Malaysia.
Speaking at a press conference later, AJ Pharma Managing Director Dr Tabassum Khan said the remaining investment would be chanelled to projects related to upstream activities for vaccine production.
"The balance is going to be the extension of this facility to produce the raw material locally," he said, adding that Malaysia would have its own home-grown vaccines in 2017.
AJ Pharma Holding is a subsidiary of Al-Jomaih Group.
International Trade and Industry Minister Datuk Seri Mustapa Mohamed and Halal Industry Development Corporation Chief Executive Officer Datuk Seri Jamil Bidin were present.