Oryx Bio-Tech Ltd. will set up the country's first bio-tech industry at Bangabandhu Hi-Tech City in Kaliakoir, Gazipur, at a cost of around US$300 million, sources said.

The company will develop the plant with a handling capacity of around 1,200 tonnes of plasma to manufacture import substitute and life-saving biomedicines and derivatives.

It will establish some 20 plasma collection stations to collect plasma from humans to produce life-saving drugs.

The China National Pharmaceutical Group Co Ltd., known as Sinopharm, will provide technical support to ensure quality output.

The bio-tech plant will be built in the hi-tech park developed by Summit Technopolis Ltd., a sister concern of Summit Group.

Biotechnology is a commonly used technology in developed countries to produce biotech products like plasma.

Biotech products are commonly used for treatment of deadly diseases like cancer and HIV, and for prevention of diseases like SARS, influenza and foot and mouth infections.

A tripartite agreement among Oryx Bio-Tech Ltd, Bangladesh Hi-Tech Park Authority and Summit Technopolis Ltd. will be held today (Tuesday) over the establishment of the biotech plant.