BEIJING, Jan. 20 (Xinhua) -- The Renalysis Medical Products of the United States has its sights set on the China market with a production base to be built in the Xi'an High-tech Industrial Development Zone in Xi'an, the capital of Shaanxi province.
The project investment agreement for a research and production base of peritoneal dialysis products and renal dialysis equipment was signed by the US company and the development zone on Wednesday with a total investment of 2.6 billion yuan ($373.6 million), of which $100 million is foreign investment.
The base is planned to be constructed with 260,000 square meters of floor area for research and production and is expected to begin operation in 2019 and to achieve annual sales of two billion yuan within three years after operation, according to James Mongoven, senior vice president of the Renalysis Medical Products.
It was reported that there are about 120 million nephropathy patients in China and renal dialysis is the main treatment for patients with renal failure. So, the dialysis products are greatly needed with a theoretical market value of more than 200 billion yuan.
An Jianli, director of the zone's management committee, said that the project would play a leading and exemplary role in the development of the Xi'an High-tech Industrial Development Zone which aims to build pharmaceutical industry clusters with an output value over 100 billion yuan, and would effectively enhance the development level and industrial competitiveness of Xi'an's bio-pharmaceutical industry. (chinadaily.com.cn)
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