Jordanian pharmaceutical company to partake in joint venture in Belarus

VITEBSK, 21 March (BelTA) – A Jordanian pharmaceutical manufacturing company will be one of the founders of the future open joint company that will be based on the Belarusian enterprise BelVitUnipharm. The Jordanian company intends to invest at least $14 million in the future company, BelTA learned from Mikhail Pavlyuchkov, Director of the Vitebskoblimushchestvo fund, after negotiations with the foreign investor. Scheduled for 21 March, the tender to choose a co-founder for the future open joint-stock company has been recognized as invalid because there was only one applicant. In line with the law the organizer was authorized to hold direct talks with the only contender. The terms the Jordanian company offers fully meet the terms of the tender. The company is ready to contribute $20,000 into the authorized fund of the future open joint-stock company. The authorized fund is supposed to be close to Br37.5 million. Besides, within three years the foreign co-founder intends to invest at least $14 million into the company, raising its share up to 53% of the authorized fund of the joint-stock company. The investments will come as money and immaterial assets such as technologies to manufacture medications. The future joint venture will be able to use the technologies for 20 years. The negotiations resulted in an agreement. The Jordanian pharmaceutical company and the government will take part in converting BelVitUnipharm into a joint-stock company, with all the conditions fulfilled, said Mikhail Pavlyuchkov. The foreign investor has undertaken to sign the agreement to create the open joint-stock company on the basis of the state-run enterprise BelVitUnipharm by 8 April at the latest. BelVitUnipharm was founded in 2008. It specializes in manufacturing pharmaceutical forms and materials as well as veterinary medications, medical instruments, instruments and equipment.

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