Ground-breaking ceremony of new "Caspian Pharmed" pharmaceutical factory was held in Pirallahi Industrial Park.

The ceremony took place during the visit of the delegation led by Iranian Minister of Cooperatives, Labour and social welfare Ali Rabiei.

Project partners will be "TPICO" (Iran, 49%), "Azersun Holding" (26%) and Azerbaijan Investment Company (25%). The project will consist of 3 stages. In the first phase there will be production of pills and capsules, ampoule and vial - in the second stage and production of antibiotic drugs will be in third stage.

In the first phase, the production capacity of factory will be more than 200 million tablets and capsules, 54 active ingredients and 84 types of different medicines.

During a visit of Ali Rabiei a number of meetings and discussions will be held on the development of Azerbaijan-Iran relations.