| Project Detail |
The Project aims to support an emergency response to the COVID-19 pandemic through the production and distribution of the COVID-19 vaccine and test kits.
DESCRIPTION
The Project involves Shanghai Fosun Pharmaceutical (Group) Co., Limited’s (Fosun Pharma) investments and capital expenditures related to COVID-19 products, including COVID-19 vaccines. The loan proceeds are expected to finance: (i) specific capital expenditure items of the COVID-19 vaccine supply plan, including setting up of cold chain logistics infrastructure, expansion and upgrade of manufacturing facilities for fill-finish and production of the COVID-19 vaccines, (ii) expansion of manufacturing facilities for COVID-19 test-kits, and (iii) working capital needs related to items (i) and (ii). The distribution and manufacturing of the COVID-19 vaccine, based on a licensing agreement with BioNTech, will be implemented in three stages: (i) Fosun Pharma will distribute the vaccine products imported from BioNTech through a network of provincial and local level cold chain warehousing and distribution facilities to vaccination points in China, (ii) Fosun Pharma will refine bulk vaccine materials from BioNTech into the final vaccine products at the existing Fosun Pharma manufacturing facility locations in China, then distribute them to vaccination points, and (iii) Fosun Pharma will form a joint venture with BioNTech to manufacture COVID-19 bulk materials and refine them into vaccine products in China and will distribute them to vaccination points. |
