Egypt to establish pharmaceutical industry zone in Suez Canal Economic Zone
Gamal El-Din made this announcement while participating in the fourth edition of the AfriSummit medical exhibition and conference, organized by the Egyptian Authority for Unified Procurement.
This pharmaceutical industry zone will be carried out in collaboration with successful partners and investors within the SCZone.
He highlighted several success stories in the pharmaceutical sector within SCZone, including the Ateco Pharma factory in the Sokhna Industrial Zone. This facility, which specializes in the manufacturing of IV fluids, occupies 20,000 m² and has an investment value of EGP 1 billion (around $20 million).
Another success story is the Gennvax Egypt factory, which manufactures vaccines on a 49,000 m² site with a total investment of $150 million.
He also mentioned the IDI factory in the East Port Said Industrial Zone, covering 20,000 m². The facility produces a variety of pharmaceuticals, including capsules, syrups, tablets, vials, and creams.
Moreover, Gamal El-Din added that the contract for the Arab Egyptian Pharmaceutical Company (ARAB API), which will produce active pharmaceutical ingredients on an 85,000 m² site with a total investment of $165 million, is nearing finalization.
He emphasized that the SCZone is working to localize the production of medicines, active ingredients, and medical devices.
It is worth noting that the fourth edition of AfriSummit is taking place with over 36 countries, more than 136 speakers, and 450 participants from various companies.
The event focuses on enhancing healthcare services in Egypt and Africa while exploring investment opportunities for African companies to operate in Arab countries.
In related news, Japanese Otsuka Pharmaceutical will establish its first factory in the Middle East to produce health supplements in Egypt's 10th of Ramadan City, with an investment of EGP 1 billion (around $20 million).
Additionally, the first biopharmaceuticals factory in the Middle East will begin operations in Egypt in the first quarter of 2025, with an investment of EGP 5 billion (around $100 million).