Samsung Biologics Investing $1.7 Bn for New BioMfg Plant and Complex
Samsung Biologics, a contract biologics manufacturer, has announced plans for a KWR 2-trillion ($1.7-billion) investment for a new biomanufacturing plant, the company’s fourth, in Incheon, South Korea and for a second bio complex. The company expects to break ground later this year (2020) for the new biomanufacturing plant and is in negotiations with the authorities of the Incheon Free Economic Zone to purchase additional land for a second bio complex to house a global R&D facility and allow for future biomanufacturing plants.
Upon finalization of the negotiation, the total size of the two investments is expected to be over KWR 2 trillion ($1.7 billion), which would exceed the total amount invested in the company’s other three biomanufacturing plants in Incheon, South Korea.
Construction of the plant will begin on an existing site and will add 23.8 million square meters in total floor area, the equivalent to the combined floor area of its existing three plants. The fourth plant would add 256,000 liters of biomanufacturing capacity and would bring the company’s total biomanufacturing capacity to 620,000 liters. Manufacturing activities at the new plant are expected to begin in the second half of 2022.
The land under negotiation for Samsung Biologics’ second bio complex is closely located to the company’s current complex and is slightly larger at 330,000 square meters. Once the terms are finalized, the company says it plans to create an Open Innovation Center to foster biotech companies and build a global R&D facility in addition to securing space for future plants within the new complex.
Source: Samsung Biologics