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Abbott's Barceloneta plant to cost $300 million: firm originally planned $165M chemical synthesizing plant; tax-exemption decree being negotiated with the P.R. government. (Abbott Laboratories Inc., Puerto Rico)
Firm originally planned $165M chemical synthesizing plant; tax-exemption decree being negotiated with P.R. government
Abbott Laboratories plans to nearly double to $300 million its planned investment to build a bulk chemicals synthesizing plant in Barceloneta, Puerto Rico, CARIBBEAN BUSINESS has learned. The proposed plant is one of the largest manufacturing-related projects being contemplated for Puerto Rico.
Abbott's original plans called for an investment of $160 million to $165 million to build a state-of-the-art bulk chemicals synthesizing plant. That investment would have resulted in the creation of 550 construction and 220 manufacturing jobs (see CARIBBEAN BUSINESS, Aug. 29,1991).
Recently, Abbott officials decided to increase the company's investment in the facility to $300 million, construction industry sources said. It was unclear as of press time how many additional construction and manufacturing jobs would be created by the increase in the amount to be invested.
The plant, to be built on 64 acres of land near Abbott's existing manufacturing complex on Road 2 in Barceloneta, will be used to make the active ...
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