Largest investment project – Svilno 2 Complex
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Largest investment project – Svilno 2 Complex

3 min of reading Published: 16.4.2013.

Although JGL production capacities are constantly modernized and expanded, the Rijeka-based pharmaceutical company is currently facing its largest investment in history. Since 2002, when the sterile solution production plant and the new raw material storage facility were opened, production capacities have been expanded with the solid oral forms plant, quality control and analytical laboratory, microbiological laboratory and a modern plant for semi-solid pharmaceutical forms, conforming to EU GMP standards.

The purchase of another 78,000 square meters of space and facilities on the Svilno location signifies the official beginning of the new project in which JGL intends to bring all its locations in Rijeka under a common one.

The Svilno 2 complex (“Pharma valley”), will present an extension of the existing production location in Svilno 1 (13,800 m2) and will bring to the company significant development, production and storage capacities that will also help ensure key resources for the realisation of the strategic vision of sustainable, planned and profitable horizontal growth over the period of ten years.

Considering that the company is focused on the development and production of drugs for the senses, additional capacities with highly developed technological equipment in the existing plants for sterile solutions and the new aerosols and equipping of solutions plant will certainly help JGL’s key brands to take a further step forward onto the global health market.

The current investment cycle will ensure the company’s planned growth, as well as the realisation of its long-term vision as a global leader in the area of nasal decongestants. The project includes major reconstruction, conversion and upgrade of the existing facilities, as well as construction of new ones, and will be realized in four phases, according to the established project portfolio.

The first phase includes the construction of the storage facility for semi-finished products, production facility on two floors with new production lines, storage facility for packaging and finished products, as well as primary packaging. There is also a new expedition department forming a whole with the storage facility, a new microbiological laboratory, and a new research and development laboratory. Furthermore, JGL will invest in new office space and the reconstruction of existing office facilities.

In later stages the complex will include the construction of a new management building, automated storage facility with high shelves, and a further expansion of production capacities.

In addition to the latest aerosol technology using BoV (Bag-on-Valve) technology increasingly present in systems of medicinal products applied as sprays, the highly developed, technological and technical process of production at Svilno 2 complex will include special processing of packaging, department for sterile coats cleaning and sterilisation, and facilities for the production and distribution of treated water, clean compressed air and clean steam.

The new production and technological investment will certainly change the Rijeka skyline and serve as an impetus for employment and economic development of the city and the county.

CBRD and JGL cooperation in the area of lending and export credit insurance

Lending

  • So far, JGL has been approved HRK 449.6 million of loan through CBRD credit programmes, with HRK 326.3 million intended for investments, HRK 73.3 million for export preparation financing and HRK 50 million for working capital financing.
  • The latest investment loan in amount of HRK 248 million was approved at the beginning of this year for the construction of the new plant for sterile solutions.

Export credit insurance

  • CBRD has been responsible for JGL’s short-term credit insurance since 2006, and the insured traffic makes JGL one of the largest CBRD clients.
  • Four foreign buyers from the Russian Federation are currently insured for the total insured amount of EUR 6.50 mil.
  • During the cooperation with JGL, CBRD has insured the company’s export traffic in the amount of EUR 119.00 mil.
  • During the cooperation, JGL was paid one compensation in the amount of HRK 1.09 mil. due to a commercial risk of a debtor from the Russian Federation.
  • On behalf of HKO d.d. (Croatian Credit Insurance), CBRD reinsures JGL export traffic in markets such as Ukraine, Kazakhstan, Georgia, Slovenia, Macedonia, Montenegro and Kosovo, with the total reinsured traffic amounting to EUR 2.12 mil.

HKO d.d. insurance

  • HKO has been responsible for JGL’s short-term credit insurance since 2011, and the insured traffic makes JGL one of the largest HKO clients.
  • Sixteen foreign buyers from the markets of Ukraine, Kazakhstan, Georgia, Slovenia, Macedonia, Montenegro, Kosovo, Hungary and Portugal are currently insured for the total insured amount of EUR 2.23 mil.
  • During the cooperation with JGL, HKO has insured the company’s export traffic in the amount of EUR 12.67 mil.

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