Bayer, a multinational company, has invested $40 million this year in the construction of a pharmaceutical plant in Costa Rica, set to be completed in the third quarter of 2023.
Overall Financial Outlay and Location of the Plant
The total investment in this project amounts to $200 million. The 28,000 square meter facility is being constructed in the Coyol Free Zone in Alajuela.
Employment Opportunities at the New Plant
Upon completion, the German company plans to hire 250 employees to work at the new plant.
Impact of Costa Rica’s Gray List Status on Bayer’s Project
Despite Costa Rica being added to the EU’s gray list of non-cooperative countries, the managing director of Bayer Costa Rica remains confident. He trusts in the Government’s efforts to resolve the situation quickly and does not anticipate it will negatively affect the project.
Bayer’s Production Plans for 2024 and 2025
Between 2024 and 2025, the company will complete the qualification process for the production of long-acting, reversible contraceptives. This line of products includes hormonal implants and intrauterine systems.
Destination of the Manufactured Products
The products manufactured at the new Costa Rica plant will be supplied to international organizations like the United Nations Population Fund and the United States Agency for International Development.
