SK Plasma to build $250 million plant in Jakarta

Rendered image of SK Plasma's plant in Indonesia [SK PLASMA]

SK Plasma will build a $250 million blood-product plant in Jakarta, Indonesia.

The Korean company said Wednesday it recently won approval from the Indonesian government to start construction of the plant. It will be the first plant the company has overseas.

SK Plasma will establish a joint venture with PT Infion, a Pandaan, East Java-based pharmaceutical company, for the factory. Specific details about the joint venture have not been disclosed, though SK Plasma said it has the highest stake.

Blood products are medicines used to treat diseases caused by the lack of a specific component in the blood. It can be used as for levels of albumin, which is for burns and hemorrhagic shock, and Liv-Gamma ,for regulating abnormal immune responses in autoimmune diseases.

It is considered an essential treatment during manmade and natural disasters like the Russia-Ukraine War and recent earthquakes in Turkey and Syria.

The construction is scheduled to be completed in 2025 and is expected to produce 1 million liters of the products annually, 1.6 times more than the current location in Andong, North Gyeongsang.

SK Plasma forecasts annual sales of around 300 billion won ($227.8 million) from the plant.

Indonesia is a big market with a population of nearly 300 million but currently imports 100 percent of its blood products, SK Plasma said.

Indonesia's blood product market is estimated to be worth some 1.15 trillion rupiah ($74 million).

BY SARAH CHEA [chea.sarah@joongang.co.kr]