{"id":608680,"date":"2023-10-24T00:00:00","date_gmt":"2023-10-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/24\/eipico-wants-usd-70-mn-to-build-third-factory-plus-gypto-pharma-signs-egp-4-bn-worth-of-agreements-with-saudi-firm\/"},"modified":"2023-10-24T00:00:00","modified_gmt":"2023-10-24T00:00:00","slug":"eipico-wants-usd-70-mn-to-build-third-factory-plus-gypto-pharma-signs-egp-4-bn-worth-of-agreements-with-saudi-firm","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/24\/eipico-wants-usd-70-mn-to-build-third-factory-plus-gypto-pharma-signs-egp-4-bn-worth-of-agreements-with-saudi-firm\/","title":{"rendered":"EIPICO wants USD 70 mn to build third factory. PLUS: GYPTO Pharma signs EGP 4 bn worth of agreements with Saudi firm"},"content":{"rendered":"

EIPICO seeks local funding for third pharma factory:<\/strong> EGX-listed Egyptian International Pharma Industries Company (EIPICO) is looking to borrow USD 70 mn in funding from Qatar National Bank (QNB) and Banque du Caire to fund the construction of its third factory, chairman and managing director Ahmed Kelani told Asharq<\/a>Business<\/a>. The local drugmaker plans to begin production at the new factory by the end of 2024.<\/p>\n

Funding breakdown: <\/strong>The plant will cost c. USD 100 mn to build, Kelani said. QNB will provide a loan of USD 60 mn, while Banque du Caire will provide USD 10 mn. Kelani did not disclose where the remaining USD 30 mn will come from.<\/p>\n

Rowad will handle the construction: <\/strong>EIPICO awarded Elsewedy Electric subsidiary Rowad Modern Engineering an EGP 418 mn contract<\/a> to construct the three factories in September 2022.<\/p>\n

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

GYPTO Pharma is heading to Saudi Arabia: <\/strong>State-owned medical city complex GYPTO Pharma signed EGP 4 bn worth of agreements with Saudi Arabia\u2019s Med City Pharma to develop drug manufacturing tech in the kingdom, reports Ahram Online<\/a>, citing a statement from GYPTO Chairman Amr Mamdouh. A group of unnamed local pharma firms were also party to the agreement.<\/p>\n

Egyptian meds<\/strong> in Saudi: <\/strong>The agreement will also see GYPTO registering and producing some of its branded meds in Saudi Arabia, Mamdouh added.<\/p>\n

Refresher: <\/strong>At 180k sqm GYPTO Pharma is considered the largest pharma production hub<\/a> in the Middle East, and is hoped to transform Egypt into a regional center for safe and affordable meds. <\/p>\n","protected":false},"excerpt":{"rendered":"

The two banks in question to provide the funding are Qatar National Bank and Banque du Caire<\/p>\n","protected":false},"author":1,"featured_media":608681,"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":[7272],"tags":[726,487,72,8630,125,427,1389,625,11699,219],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-608680","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-watch","tag-banque-du-caire","tag-eipico","tag-enterpriseam","tag-gypto","tag-investment-watch","tag-pharma","tag-pif","tag-qnb-alahli","tag-rowad-modern-engineering","tag-saudi-arabia","wpautop","entry"],"acf":{"mongo_id":"1a537745-71e3-4d2c-b889-afac98bd24a8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/10\/1167.jpg","photo_position":"above","homepage_title":"","full_issue_title":"EGX-listed EIPICO wants USD 70 mn from local banks to build third biopharma factory. PLUS: GYPTO Pharma signs EGP 4 bn worth of agreements with Saudi firm","related_issue":[608668],"teaser":"The two banks in question to provide the funding are Qatar National Bank and Banque du Caire","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/10\/.bddd1e15-d6a8-41c6-b93a-613936db1c85.mp3"},"yoast_head":"\nEIPICO wants USD 70 mn to build third factory. PLUS: GYPTO Pharma signs EGP 4 bn worth of agreements with Saudi firm - 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\/10\/24\/eipico-wants-usd-70-mn-to-build-third-factory-plus-gypto-pharma-signs-egp-4-bn-worth-of-agreements-with-saudi-firm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EIPICO wants USD 70 mn to build third factory. 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Meanwhile, EBRD and British International Investment said they would provide\u2026","rel":"","context":"In "Development finance"","block_context":{"text":"Development finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/development-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/2\/6.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550370,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/25\/saudi-wealth-fund-acquires-minority-stake-in-eipico\/","url_meta":{"origin":608680,"position":1},"title":"Saudi wealth fund acquires minority stake in EIPICO","author":"enterpriseam admin","date":"25 October 2022","format":false,"excerpt":"PIF now owns a slice of EIPICO: Saudi Arabia\u2019s sovereign wealth fund is strengthening its position in Egypt\u2019s pharma sector, acquiring a 4.7% stake in EGX-listed Egyptian Pharma Company (EIPICO), Al Mal reports, citing sources it says are in the know. The Public Investment Fund (PIF) reportedly purchased some 4.7\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/325.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577575,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/28\/does-pif-want-more-of-eipico\/","url_meta":{"origin":608680,"position":2},"title":"Does PIF want more of EIPICO?","author":"enterpriseam admin","date":"28 November 2022","format":false,"excerpt":"Among the other stories we\u2019re paying attention to this morning:PHARMA- EIPICO says it hasn\u2019t been formally told Saudi\u2019s PIF wants to up its stake: EIPICO IR Manager Abdel Raheem Ghareeb tells us that the company has not received any official notice that Saudi Arabia\u2019s Public Investment Fund (PIF) intends to\u2026","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\/2022\/11\/451.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":596530,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/07\/01\/eipico-board-approves-acquisition-of-9-77-stake-in-medical-union-pharma\/","url_meta":{"origin":608680,"position":3},"title":"Eipico board approves acquisition of 9.77% stake in Medical Union Pharma","author":"enterpriseam admin","date":"1 July 2019","format":false,"excerpt":"M&A WATCH- Eipico looking to acquire 9.77% stake in Medical Union: Pharma player Eipico\u2019s board of directors has agreed to acquire a 9.77% stake in Medical Union Pharma (MUP) for over EGP 200 mn, sources told the local press. The stake belongs to Egylease, which is looking to increase the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":591940,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/22\/eipico-acquires-a-10-stake-in-medical-union\/","url_meta":{"origin":608680,"position":4},"title":"Eipico acquires a 10% stake in Medical Union","author":"enterpriseam admin","date":"22 December 2019","format":false,"excerpt":"M&A WATCH- Eipico acquires a 10% stake in Medical Union: Pharma player Eipicohas acquired a 10% stake in Medical Union Pharma for EGP 210 mn, sources close to the matter tell Al Mal. The company bought 4.8 mn shares that were previously owned by Egyleaseas part of its exit from\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575096,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/01\/banque-du-caire-receives-usd-15-mn-from-sanad-for-onlending-to-smes\/","url_meta":{"origin":608680,"position":5},"title":"Banque du Caire receives USD 15 mn from Sanad for onlending to SMEs","author":"enterpriseam admin","date":"1 October 2020","format":false,"excerpt":"Banque du Caire has received USD 15 mn from German development bank KfW\u2019s Sanad Fund for on-lending to SMEs, a jointstatement (pdf) said on Wednesday. Chairman Tarek Fayed said the funding will be aimed at low-income and village residents, providing needed liquidity for farmers, small agricultural enterprises and micro-financing institutions.","rel":"","context":"In "Banking + Finance"","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/608680","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=608680"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/608680\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/608668"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/608681"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=608680"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=608680"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=608680"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=608680"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=608680"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}