(MENAFN- Trend News Agency)
Russia and Vietnam have reached an agreement on localization of the production of the Sputnik V jab on the republic's territory, President of Russia's Chamber of Commerce and Industry Sergey Katyrin told TASS on Tuesday, adding that the technical implementation of the project would start in the first quarter of 2022, Trend reports.
'One of Vietnam's largest industrial holdings T&T Group, Russia's Binnopharm Group (a subsidiary of Sistema) and the operator of the first Vietnamese-Russian industrial park Deep C Russia have reached an agreement on localization in Vietnam of the production of the Russian vaccine against the coronavirus Sputnik V. The transfer of the technology will be organized by the Russian Direct Investment Fund, the project has been coordinated since the beginning of its discussion by the Russian-Vietnamese business council set up under the guidance and with the participation of the Chamber of Commerce and Industry of the Russian Federation,' he said.
The signing of the agreement by the participants of the consortium is planned in early December, Katyrin added.
'It is suggested that the technical implementation of the project with investment estimated at $60-70 mln will start as early as in the first quarter of 2022. In this case a full-fledged production will be organized as early as in the first quarter of 2023. It is planned that the facility will produce at least 40 mln doses of the two-component vaccine per year. The Health Ministry of Vietnam will act as the main purchaser of its products,' he noted, adding that the joint venture would be located on the territory of the Russian-Vietnamese industrial park Deep C Russia in the Quang Ninh province.
Sputnik V was registered by the country's Health Ministry on March 23, becoming one of the first among eight foreign vaccines permitted to be used in Vietnam.
Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.