Lonza to form South African JV

Lonza has confirmed it is negotiating with the South African Government to establish a $206m JV, called Ketlaphela, for the establishment of a manufacturing facility for anti-retroviral medicines. The discussions are still at an early stage and nothing has been signed. South African Science and Technology Minister Naledi Pandor has said production should start in 2016 and create 2200 jobs. The South African Industrial Development Corporation and other state institutions will invest $129m, Lonza will invest more than $64m and South Africa's state chemical company, Pelchem (Pty) Ltd., will contribute land and facilities worth $13m. Lonza said that the discussions are still at an early stage and nothing has been signed.
Reuters-Yahoo