7 November 2024 12:29 am Views - 109
Access Engineering PLC is gearing up to build Sri Lanka’s first cyclotron-based radiopharmaceutical production facility, with a development cost of US $ 6.5 million.
The facility, designed to produce fluoro-deoxy-glucose (FDG) for cancer detection, will be developed under a build-operate-own agreement signed on November 5. The project is a collaboration with the Sri Lanka Atomic Energy Board (SLAEB) and Health Ministry. Access Medical Tracers (Private) Limited, a special-purpose vehicle created for the project, will manage the facility. The ownership structure is as follows: Access Engineering holds a 60 percent stake, Access International (Private) Limited owns 20 percent, while the SLAEB and Health Ministry each holds 10 percent. The groundbreaking ceremony for the facility is scheduled for November 8. Once operational, the plant will produce FDG locally, addressing a critical need for cancer diagnostic tools and reducing the country’s reliance on imported supplies.
The specific investment amount from Access Engineering would be disclosed at a later date, Access Engineering said in a filing to the Colombo Stock Exchange.