Lotte Biologics has signed a contract worth 875 billion KRW with Lotte Construction for the construction of Plant 1 at the Songdo Bio Campus.
Lotte Holdings announced on the 28th that its subsidiary, Lotte Biologics, signed this contract with Lotte Construction.
According to the contract, Lotte Construction plans to complete Plant 1 of Lotte Biologics' Songdo Bio Campus by the end of 2026. Currently, Lotte Biologics' total assets amount to approximately 412.9 billion KRW, and it plans to raise construction funds through capital increase and borrowing.
Plant 1 at Lotte Biologics' Songdo Bio Campus will be a biopharmaceutical production facility with a total capacity of 120,000 liters. Construction began in March, and a groundbreaking ceremony is scheduled for the 3rd of next month.
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