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EIPICO, Kambal to build $30m pharmaceutical plant in Sudan

EIPICO, Kambal to build $30m pharmaceutical plant in Sudan
Construction of the plant is expected to be complete within two years
EIPICO
PHAR
-2.36% 46.00 -1.11

Cairo – Mubasher: The Egyptian International Pharmaceutical Industries (EIPICO) signed a partnership agreement with Kambal International Co. to build a pharmaceutical plant in Sudan with investments of $30 million.  

The two companies paid $9 million each from the investment value to establish the plant, EIPICO said in a bourse disclosure on Wednesday.

Construction of the plant is expected to be complete within two years, the Chairman of EIPICO, Ahamed Kilany said.

Over the course of 2020, EIPICO logged net profits of EGP 487.4 million, down from EGP 671.44 million in 2019.