{"id":588632,"date":"2023-06-14T00:00:00","date_gmt":"2023-06-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/eva-pharma-plans-usd-110-mn-saudi-meds-complex\/"},"modified":"2023-06-14T00:00:00","modified_gmt":"2023-06-14T00:00:00","slug":"eva-pharma-plans-usd-110-mn-saudi-meds-complex","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/eva-pharma-plans-usd-110-mn-saudi-meds-complex\/","title":{"rendered":"Eva Pharma plans USD 110 mn Saudi meds complex"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">PHARMA- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Eva Pharma\u2019s Saudi subsidiary is building a USD 110 mn research and meds <\/span><span style=\"font-weight:700\">production complex in Sudair Industrial City<\/span><span>, CEO Riad Armanious told <\/span><span>Asharq Business<\/span><span> (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.asharqbusiness.com\/article\/51187\/%D8%A5%D9%8A%D9%81%D8%A7-%D9%81%D8%A7%D8%B1%D9%85%D8%A7-%D8%A7%D9%84%D9%85%D8%B5%D8%B1%D9%8A%D8%A9-%D8%AA%D8%AA%D8%AC%D9%87-%D9%84%D8%A5%D9%86%D8%B4%D8%A7%D8%A1-%D9%85%D8%AC%D9%85%D8%B9-%D8%B5%D9%86%D8%A7%D8%B9%D9%8A-%D8%A8%D8%AD%D8%AB%D9%8A-%D9%84%D9%84%D8%A3%D8%AF%D9%88%D9%8A%D8%A9-%D9%81%D9%8A-%D8%A7%D9%84%D8%B3%D8%B9%D9%88%D8%AF%D9%8A%D8%A9\/\" style=\"\">watch, runtime: 5:23<\/a><\/span><span style=\"font-weight:400;\">). The local pharma firm will partner with Saudi institutions on the project, which will include five factories for meds and cosmetics and is expected to start production in 2025, Armanious said. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Stuck meds could soon move out of ports: <\/span><span style=\"\">A backlog of pharma raw materials <\/span><span>imports worth USD 150 mn stuck at our ports could be cleared by the <\/span><span>end of June<\/span><span> after the Madbouly government last month <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/0722f6c7-ea85-45f0-a046-5274e34f2875\" style=\"\">pledged USD 100 mn<\/a><\/span><span> in support for pharma factories, Gamal El Leithy, head of the Federation of Egyptian Industries\u2019 pharma division, is quoted as telling <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.alborsaanews.com\/2023\/06\/13\/1679052\" style=\"\">Al Borsa<\/a><\/span><span style=\"font-weight:400;\">. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">M&A-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">JAF Investment receives approval for share transfer of AIH subsidiaries:<\/span><span style=\"\"> JAF <\/span><span>Investment has obtained the approval of the Financial Regulatory Authority (FRA) to proceed with the transfer of shares in two subsidiaries of Arabia Investments Holding (AIH), AIH said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/6\/661.pdf\" style=\"\">a disclosure (pdf)<\/a><\/span><span> to the bourse yesterday. JAF Investment \u2014 the family office of AIH chairman Gamal Abdelfatah Othman \u2014 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/fede2431-d624-4633-ae66-5d07a23ff53e\" style=\"\">submitted<\/a><\/span><span style=\"font-weight:400;\"> an offer last month to acquire 30% stakes in UE Finance for EGP 147 mn and Rawaj Consumer Finance for EGP 30 mn.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">SMEs- <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Saudi funding for MSMEs: <\/span><span style=\"\">The Saudi Arabia Grant Management Committee is <\/span><span>extending EGP 150 mn to Egypt\u2019s Micro, Small and Medium Enterprises Development Agency (MSMEDA) to finance local industrial projects, according to an MSMEDA <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.msmeda.org.eg\/MSMEDA\/NewsDetailes?NewsId=153\" style=\"\">statement<\/a><\/span><span style=\"font-weight:400;\">said. The funds will provide the projects with working capital and help them to secure raw materials, machines, and equipment. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">VENTURE CAPITAL-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Acasia Ventures opens in Nigeria:<\/span><span style=\"\"> Acasia Ventures \u2014 the VC arm of the local <\/span><span>investment outfit formerly known as Cairo Angels \u2014 has opened a new office in Lagos, Nigeria as it aims to expand in the Nigerian market and across Africa, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/6\/688.pdf\" style=\"\">press<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/6\/688.pdf\" style=\"\">release (pdf)<\/a><\/span><span style=\"font-weight:400;\">. Twelve of the startups in Acasia\u2019s portfolio are located in Africa, with two based in Nigeria, the release reads. \u201cWe have our heritage in Egypt, but we really believe in the future of the whole continent,\u201d said Acasia Ventures General Partner Biola Alabi. Acasia\u2019s Nigerian office comes a few months after the VC set up a space in Dubai.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Local trucking startup <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/trella.app\/\" style=\"\">Trella<\/a><\/span><span style=\"font-weight:700\"> has secured USD 3.5 mn from <\/span><span style=\"font-weight:700\">private equity outfit <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"http:\/\/www.avanzcapital.com\/index.html\" style=\"\">Avanz Capital<\/a><\/span><span style=\"font-weight:700\">as part of an ongoing bridge funding round<\/span><span style=\"font-weight:400;\">, Trella CEO Omar Hagrass told Enterprise Logistics. The funding round has so far accrued a total that is \u201cmuch more than three times\u201d Avanz Capital\u2019s USD 3.5 mn investment in quasi-equity financing. Talks with four or five other investors are still ongoing in what Hagrass referred to as the round\u2019s \u201cfinal sprint.\u201d <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">**Read the <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/5f93403d-39ef-4efb-9f34-a901786f6d47\" style=\"\">full story<\/a><\/span><span style=\"font-weight:700\"> in this morning\u2019s edition of Enterprise<\/span><span style=\"font-weight:700\"> Logistics. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The company wants to build five factories and a research hub<\/p>\n","protected":false},"author":1,"featured_media":588633,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[6801,111,2728,72,574,7040,7128,427,758,991,287,2482,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-588632","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-acasia-ventures","tag-also-on-our-radar","tag-arabia-investments-holding","tag-enterpriseam","tag-eva-pharma","tag-jaf-investment","tag-ma-watch","tag-pharma","tag-private-equity","tag-sme-development-authority","tag-smes","tag-trella","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"c15f32af-9995-43f0-88c9-ed28508f4bdd","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/691.jpg","photo_position":"below","homepage_title":"","full_issue_title":"Egypt\u2019s Eva Pharma plans USD 110 mn Saudi meds complex. PLUS: JAF gets greenlight to transfer shares in AIH subsidiaries + KSA funds Egyptian MSMEs + Acasia in Nigeria","related_issue":[588616],"teaser":"The company wants to build five factories and a research hub","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.31630e65-a222-4efc-9aa3-0de186a7bf69.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Eva Pharma plans USD 110 mn Saudi meds complex - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/eva-pharma-plans-usd-110-mn-saudi-meds-complex\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eva Pharma plans USD 110 mn Saudi meds complex\" \/>\n<meta property=\"og:description\" content=\"The company wants to build five factories and a research hub\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/eva-pharma-plans-usd-110-mn-saudi-meds-complex\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-14T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/691.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/eva-pharma-plans-usd-110-mn-saudi-meds-complex\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/eva-pharma-plans-usd-110-mn-saudi-meds-complex\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Eva Pharma plans USD 110 mn Saudi meds complex\",\"datePublished\":\"2023-06-14T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/eva-pharma-plans-usd-110-mn-saudi-meds-complex\/\"},\"wordCount\":461,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/eva-pharma-plans-usd-110-mn-saudi-meds-complex\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/6\/691.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Acasia Ventures\",\"ALSO ON OUR RADAR\",\"Arabia Investments Holding\",\"EnterpriseAM\",\"Eva Pharma\",\"JAF Investment\",\"M&amp;A Watch\",\"pharma\",\"private equity\",\"SME Development Authority\",\"SMEs\",\"Trella\",\"venture capital\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/eva-pharma-plans-usd-110-mn-saudi-meds-complex\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/06\/14\/eva-pharma-plans-usd-110-mn-saudi-meds-complex\/\",\"name\":\"Eva Pharma plans USD 110 mn Saudi meds complex - 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