Yongan Pharma plans $42 mln taurine production plant
Shanghai. September 10. INTERFAX-CHINA - Hubei Province-based Qianjiang Yongan Pharmaceutical Co. Ltd. has signed a letter of intent with Wuhan National Bio-Industry Base (Biolake) to set up a taurine production facility in the park, the company announced Sept. 10.
According to the announcement, Yongan Pharma will invest a minimum of RMB 286 million ($42.16 million) in the 110 mu (73,333.33 square meter) plant.
Construction will take place in two phases. The first will mainly focus on production facilities for effervescent and buccal taurine tablets, and the second on a taurine research and development (R D) center.
Taurine, or 2-aminoethanesulfonic acid, is an organic acid widely used in pharmaceutical and food industries.
"Our taurine production capacity has reached 24,000 tons per year, accounting for approximately 50 percent of taurine production output in China," Zhu Gaojian, an investor relations representative from the company, told Interfax on Sept. 10.
According to Zhu, 80 percent to 90 percent of the taurine produced by Yongan Pharma is exported to overseas markets in Europe, Japan, South Korea and Southeast Asian countries for use as an active pharmaceutical ingredient (API) or a food additive.
- MS