Global Pharma’s New Factory of EGP 200 Mln Investments
Published Sunday, 13 May 2012 17:42 | Written by Mahmoud Hemdan
Investors have obtained official approval to start establishing Global Pharma’s new factory in Bayad El Arab industrial zone in Beni Suef in which the investments amount to EGP 200 million.
Dr. Gamal Ezz Eddin, the Chief Executive of the new factory, told Amwal Al Ghad that the company is completing the establishment of the factory which started many months ago.
“We are currently completing the establishment of the new factory coincident with issuing the necessary license and approvals from the Ministry of Health so as to begin to work.” Ezz Eddin added.
“The new factory aims at providing more than 300 job opportunities for Beni Suef residents and for specialists from other governorates.”
Ezz Eddin pointed out that the new factory will produce a large amount of human and veterinary medicines as well as cosmetics. The new factory’s production will be directly for filling the marketing gap in the local market. In addition, a certain percentage of the factory’s production will be allocated for exporting to the global markets.
“The new factory will be in operation within a year or more from now after fulfilling all the official procedures and restoring security as well as political situation in the country so that the state of recession which the Egyptian market is facing nowadays would come into an end.”
Ezz Eddin pointed out that the new factory is a self-financing investment contributed by him along with a number of other investors in the sector of pharmacueticals without resorting to any kind of bank financing.