Samsung Biologics investing $736 million in manufacturing plant

Seoul: Samsung Biologics, an unlisted arm of South Korea's Samsung Group, said on Friday it would invest 850 billion won ($736 million) to build a manufacturing facility, as the conglomerate steps up its expansion in the biopharmaceutical sector.

Construction of the plant, which will have a capacity of 180,000 litres, is to be completed by September 2018, according to a regulatory filing.

Most shares in Samsung Biologics are owned by Samsung C&T Corp and Samsung Electronics Co Ltd.

Samsung Bioepis Co Ltd, a developer of generic versions of biotech drugs that is 90 percent-owned by Samsung Biologics, said in June it was considering a Nasdaq IPO.