Alina Oprea • 8 June, 2023 at 8:00 PM
Antibiotice Iaşi Company, the largest Romanian producer of generic drugs, will build a 2.5 MW photovoltaic plant. The company announced that it obtained from the Ministry of Investments and European Projects financing of RON4,08 million (€816,000) in this regard. The financing is part of the National Recovery and Resilience Plan (PNRR), and the difference up to RON13.8 million (€2,76 million) - the estimated value of the project - will be provided from the pharmaceutical company's own funds.
The project involves the installation of 4,680 photovoltaic panels, which will cover an area of 31,428 sqm of the company's platform and will provide 26.4% of the required electricity.
"Investment in electricity production capacities from renewable sources represents a sustainability component of the Business Plan <The Future Together 2020-2030>, through which Antibiotice shareholders have set bold objectives for the next years to increase turnover and share of the market, generating increasing profits for shareholders, of fees and taxes for the state budget and which will also maintain 1,300 jobs in the Romanian industry", says the company.
Previously, the company signed a consulting agreement with the European Investment Bank (EIB) to identify options for the development of the company domestically and internationally, including by increasing the portfolio.
At the same time, Antibiotice announced in the middle of last month that it obtained from the Romanian state the agreement for the financing of the project "Production capacity, packaging and storage of sterile products, solutions, and topicals", aid amounting to RON85 million (€17 million). The total value of the project is RON200.1 million (€40,02 million) the rest of the amount being provided from own resources.
In the perspective of the 2030s, Antibiotice aims to attract 100 new products, both through license acquisitions and through its own research, increasing the coverage of production capacities up to 75%-80%, investing in sustainable technologies, and optimizing processes manufacturing.
The strategy foresees the gradual increase of the turnover, estimated to increase 2.5 times by 2030, with an emphasis on increasing the profitability of the business, from €10 million to €60 million.