Indonesia’s sovereign wealth fund joins SK plasma’s blood products business

[Courtesy of SK plasma]

South Korea’s SK plasma Co. signed an investment agreement with the Indonesia Investment Authority (INA) to establish a blood products plant in Indonesia.

SK plasma announced Tuesday that it reached an agreement with INA, Indonesia’s sovereign wealth fund, on the direction of the blood plasma facility construction project and deal terms.

INA, with its goal of expanding infrastructure and contributing to economic development in Indonesia, plans to invest up to $50 million in the blood plasma project and become the second-largest shareholder in the venture.

Blood plasma products, derived from blood, are essential pharmaceuticals used in various medical fields, including the treatment of excessive bleeding, congenital immune deficiencies, and hemophilia.

SK plasma received authorization from the Indonesian Ministry of Health in March to build a plasma fractionation facility in Indonesia, with an aim to complete construction in 2025.

“With the support of the Indonesian government and INA’s participation, we expect the construction of our blood plasma facility to accelerate,” said SK plasma CEO Kim Seung-joo. “We plan to invite key officials from both countries for a local groundbreaking ceremony later this year.”