SK Plasma said it will begin the construction of its new blood product plant in Indonesia, which will be able to manufacture a million liters of plasma raw materials annually, in May.

The company plans to complete the construction by 2025.

The announcement follows the Indonesian authorities approving the construction of SK Plasma's blood products plant near Jakarta, Indonesia, on March 8.

SK Plasma will operate the local plant and transfer its blood product manufacturing and facility technology.

The company expects that this will help Indonesia achieve some self-sufficiency in the pharmaceutical industry.

The export was made possible by SK Plasma's technological prowess and the foundation of Korea-Indonesia cooperation in the healthcare sector, the company said. 

SK Plasma stressed that it is the first case of the Korean government and a private company cooperating in the bio-industry to win a comprehensive business right for a foreign government.

Meanwhile, Korea's Ministry of Health and Welfare and Indonesia's Ministry of Health pledged their full support for SK Plasma's new plant.

SK Plasma CEO Kim Seung-joo signed a joint declaration to build and operate a blood products plant in Indonesia during an event commemorating the 50th anniversary of diplomatic relations between South Korea and Indonesia, held on Friday.

Korean Health and Welfare Minister Cho Kyoo-hong and Indonesian Health Minister Budi Gunadi Sadikin also attended the event and vowed full support and cooperation in the construction and operation of SK Plasma's blood products plant in Indonesia.

"The Indonesian government is committed to building a resilient healthcare system at the national level," Indonesian Health Minister Budi said. "Today's meeting is the result of the hard work between both governments and the private sector, and we look forward to continued communication that can benefit both countries."

SK Plasma CEO Kim also said, "With the full support of both governments, we will successfully build and operate the blood products plant in Indonesia."

The company will continue to contribute to global healthcare by exporting its technology to countries that do not have their own plasma processing technology.