SCZONE signs a contract to establish a pharmaceutical industrial zone with investments of $120 million

Dr. Khaled Abdel Ghaffar, Minister of Health and Population, a witnessed this morning, at the headquarters of the Ministry of Health in the Administrative Capital, the signing ceremony of the contract for the development of a pharmaceutical industrial zone within SCZONE’s Sokhna integrated industrial zone, with (Arab API) company. The project aims to manufacture active and inactive raw materials, intermediate materials, concentrates, and chemicals necessary for pharmaceutical industries, in an area of 96,828 square meters, with a total expected investment of $120 million. The contract was signed by Dr. Mohamed Abdel Gawad, SCZONE’s Vice Chairman for Investment and Promotion Affairs, representing SCZONE, Mr. Ahmed Saad, SCZONE’s CEO, representing “SCZONE Istithmar” Investment Company, the investment arm of SCZONE, and Dr. Ahmed Saeed Kilani, Chairman of the Board of Directors of (Arab API) company. In the presence of Major General Dr. Bahaa El-Din Zidan, Chairman of the Egyptian Authority for Unified Procurement (UPA), Dr. Ali El-Ghamrawy, Chairman of the Egyptian Drug Authority (EDA), and Mr. Waleid Gamal El-Dien, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE)

“This project reflects SCZONE’s commitment to localizing the pharmaceutical industries in Egypt and strengthening its position in this field to become a regional hub for this industry based on the capabilities of SCZONE. SCZONE has committed to providing an attractive investment environment with the necessary infrastructure for the success of these projects, noting that the project represents a qualitative shift in the pharmaceutical industry sector in Egypt. It is not just an industrial project, but it is an implementation of Egypt’s vision based on integration between all concerned parties to achieve self-sufficiency in essential medicines, and reduce the gap between supply and demand in the local market.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE declared.

” SCZONE has success stories in this field, represented by the Ateco Pharma factory in the Sokhna Industrial Zone, which specializes in the manufacture of intravenous injection drugs, and is located on an area of 20 thousand square meters, with an investment cost of about one billion Egyptian pounds, the “Gennvax” factory for the manufacture of biological vaccines and serums, located on an area of 49 thousand square meters, with an investment cost of $150 million, and the IDI factory, which is located within East Port Said Industrial Zone on an area of 20 thousand square meters, and specializes in the manufacture of many pharmaceutical preparations.” Mr. Waleid Gamal El-Dien, Chairman of SCZONE added.

It is worth noting that SCZONE has allocated 4 million square meters to establish an industrial zone for pharmaceutical industries in cooperation with the Egyptian Authority for Unified Procurement (UPA).