{"id":592600,"date":"2023-08-08T00:00:00","date_gmt":"2023-08-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/08\/parkville-pharma-factory-to-open-this-month\/"},"modified":"2023-08-08T00:00:00","modified_gmt":"2023-08-08T00:00:00","slug":"parkville-pharma-factory-to-open-this-month","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/08\/parkville-pharma-factory-to-open-this-month\/","title":{"rendered":"Parkville Pharma factory to open this month"},"content":{"rendered":"

PHARMA- <\/strong><\/p>\n

Parkville Pharmaceuticals plans to start operations at its local factory before the <\/strong> end of August <\/strong>, Al Mal<\/a> reported yesterday, citing company CEO Mahmoud Farrag. The Borg El Arab factory has been in the works since 2017 and cost some EGP 150 mn in total investment, Farrag said, adding that it will manufacture both Parkville\u2019s own and third-party products. . <\/p>\n

More where that came from: <\/strong> The pharma company plans to invest more than EGP 300 mn in the coming year to expand the factory and launch new products, including by setting up three new production lines for cosmetics and one for dietary supplements. Parkville will fund the investments through a combination of self-funding and debt, Farrag is quoted as telling Al Mal. <\/p>\n

INFRASTRUCTURE- <\/strong><\/p>\n

Concord x Neom: <\/strong>Local engineering and contracting firm Concord and two Saudi companies will together work on an SAR 10 bn (c. USD 2.7 bn) project in Saudi\u2019s futuristic mega city Neom, reports Al Mal<\/a>, citing anonymous sources. Concord has also submitted tenders for five other projects in Neom, Riyadh, and Jeddah, the sources said.<\/p>\n

REAL ESTATE- <\/strong><\/p>\n

Madinet Masr launches an R&D arm: <\/strong> The real estate developer has launched Madinet Masr Innovation Labs, which aims to build digital solutions for the real estate market, it said in a press<\/a> release<\/a> (pdf)<\/a> yesterday.<\/p>\n

It\u2019s already innovating: <\/strong>Madinet Masr Innovation Labs simultaneously launched a new digital platform, Touba, which offers customers \u201cinnovative solutions for purchasing and investing in real estate without bank cheques.\u201d Touba will first be made available to buyers at the developer\u2019s new project Elan<\/a> in Sarai.<\/p>\n

REGULATION- <\/strong><\/p>\n

FinMin amends customs law: <\/strong> Some provisions of the customs law have been amended to facilitate customs release procedures under a decision issued by Finance Minister Mohamed Maait, according to a ministry statement<\/a>. The modified procedures require customs declaration forms to be submitted electronically as soon as incoming goods are unloaded, and make ins. documents acceptable substitutes for bank guarantees. New measures have also been introduced to exempt oil companies from certain fines in order to stimulate exports, among other changes.<\/p>\n","protected":false},"excerpt":{"rendered":"

It took six years and EGP 150 mn to build the factory<\/p>\n","protected":false},"author":1,"featured_media":592601,"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":[111,309,72,276,7111,11034,11035,131,1407,11033,427,83,343,219,11036],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-592600","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-customs","tag-enterpriseam","tag-finance-ministry","tag-infrastructure","tag-madiner-masr-for-housing-and-development","tag-madinet-masr-innovation-labs","tag-manufacturing","tag-neom","tag-parkville-pharmaceuticals","tag-pharma","tag-real-estate","tag-regulation","tag-saudi-arabia","tag-touba","wpautop","entry"],"acf":{"mongo_id":"9df57e04-7e50-41d7-a3a0-d6e3f8a2f096","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/8\/349.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Parkville Pharma factory to open this month. 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(International Cooperation Ministry statement)PHARMA M&A- Rwanda-based private equity firm Admaius Capital Partners is close to acquiring a minority stake in local pharma firm Parkville. 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Gabr did not mention the location or capacity of the planned facility, but noted that production will begin in 2020.","rel":"","context":"In "Health + Education"","block_context":{"text":"Health + Education","link":"https:\/\/enterpriseam.com\/egypt\/category\/health-education\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":629333,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/05\/28\/atco-pharma-plans-to-build-new-egp-70-mn-factory-at-sczone\/","url_meta":{"origin":592600,"position":4},"title":"Atco Pharma plans to build new EGP 70 mn factory at SCZone","author":"enterpriseam admin","date":"28 May 2018","format":false,"excerpt":"Atco Pharma is planning to build a EGP 70 mn factory at the Suez Canal Economic Zone (SCZone), Al Shorouk reports. The new factory\u2019s output will mostly be exported, according to a company official. Atco Pharma is currently awaiting necessary regulatory approval to launch its new facility.","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":581165,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/21\/outsourcer-transcom-to-invest-eur-40-mn-to-expand-egypt-operations\/","url_meta":{"origin":592600,"position":5},"title":"Outsourcer Transcom to invest EUR 40 mn to expand Egypt operations","author":"enterpriseam admin","date":"21 February 2023","format":false,"excerpt":"Outsourcer Transcom to invest EUR 40 mn to expand Egypt operations","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/phone-1600px.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/592600","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=592600"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/592600\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/592576"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/592601"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=592600"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=592600"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=592600"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=592600"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=592600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}