EIPICO Implements Project to Develop Pharmaceutical Industry in Kazakhstan
Chairman of the Investment Committee of the Ministry of Foreign Affairs of the Republic of Kazakhstan Gabidulla Ospankulov met with the Chairman of the Board of the Egyptian pharmaceutical company EIPICO Ahmed Kelani at the site of JSC "NC "KAZAKH INVEST," during which the parties discussed the progress of the project to build a full-cycle pharmaceutical plant in Kazakhstan.
A. Kelani informed the Kazakh representatives that EIPICO is considering implementing a project in Almaty. It is planned that it will be located on the territory of the PIT SEZ. Local partners have already been found — the Qazaqstan Investment Corporation direct investment fund and Garant Trading LLP, which has significant experience in pharmaceutical activities. The project is expected to cost about $33 million, and the number of jobs created will reach 200.
EIPICO is also negotiating contracts with public and private distributors to supply pharmaceutical products to Kazakhstan with the possibility of further export.
At the end of the meeting, the parties agreed to strengthen cooperation in implementing a promising project that will contribute to developing the pharmaceutical industry in Kazakhstan and neighboring countries.
For reference:
EIPICO is a leading pharmaceutical company in Egypt, the Middle East, and North Africa. It owns 26% of Egypt's total pharmaceutical exports and currently exports goods to more than 65 countries around the world, including Africa, Asia, Europe, and Latin America.
