AMERICAN BANK GIVES $15.5M TO HEALTH FIRM
-Im Bank of America has granted credit facility of $15.5 million to Alpha Fluids Ltd, for the production of health products such as sterile intravenous solutions, medical drips, vitamin-enriched bottled water and medical beverages.
In granting the facility, Chief Executive Officer of American Plastics Technologies (APT), the company that will manufacture the equipment for the production of the health products, Dr Rao Murukurthy, said 'the project is going to change thousands of lives for the better for several generations to come in Nigeria. It is a life saving thing.'
In a statement posted on the website of the Bank, production of the equipment 'will enable APT to add 40 US employees immediately to help installation, operations and maintenance in the new plant.'
Spokesman of Alpha Fluids Ltd, Dr Festus Okubor, said the company, which will be the largest in Africa, is conceived so that 'Nigeria will become not only self-sufficient in the production of these vital medical fluids, but also become exporter of the products to neighbouring African countries.”