The Nelson Mandela Bay Municipality welcomes Aspen Pharmaceuticals mega investment to the value of one billion rands, as it reaffirms the city’s status as a strategic and preferred investment destination.
On Monday, 07 May 2018, the company officially unveiled its recently completed billion rand high containment facility in Nelson Mandela Bay. The commissioning of this technologically advanced facility further cements Aspen’s position as the largest private investor in the South African pharmaceutical industry, with its current manufacturing operations constituting a significant portion of the installed pharmaceutical volume capacity in the country.
Its latest R1 billion fixed asset investment further shows the company’s confidence in the city’s future growth potential and this will importantly bolster job creation and further enhance the company’s export potential.
There is also a strong indication that the company is looking into relocating some of its offshore manufacturing institutions to Nelson Mandela Bay, to consolidate its operations in the Metro. Aspen Group Chief Executive, Stephen Saad, indicated that this recent investment is just a start of things to come.
This would essentially reinforce his company’s presence in the Metro and enable this pharmaceutical giant to become an employer of choice – the biggest in the Metro.
In its operations in the Eastern Cape, Aspen currently employs over 2500 people, of which 2000 are based at its Nelson Mandela Bay plant, with more than 90 percent of these employees coming from local communities.
At full capacity, the new high containment plant will produce approximately 3.6 billion tablets annually and package some 3 million bottles per month.
We must also pay tribute to the Minister of Trade and Industry, Dr Rob Davies, for the seminal role he has played in encouraging and facilitating this massive investment. The presence of both Dr Davis and MEC for Finance, Sakhumzi Somyo, also highlighted the importance of good collaborative intergovernmental relations when it comes to attracting and securing investments of this magnitude.
With Moody’s recent grading of our credit profile, the City has laid a solid foundation for further growth as an investment destination of choice in South Africa.