Egypt-based PharmaPlast, a pharmaceutical company operating in Alexandria’s general free zone, recently announced plans to set up a new factory in the Industrial Borg El-Arab City in 2018, Daily News Egypt reported.
The company began the implementation of the first phase of the project with investments worth EGP40 million ($2.23 million), Mamdouh Atiya, managing director, PharmaPlast said.
He said that the company owns a 8,000 sq m plot, 40 per cent of which will be allocated for the implementation of the first phase of the project, while the remaining area will be allocated for future expansion.
Atiya added that the company owns nine production plants in Alexandria’s Amreya dedicated to the production of deep burn and wound medications.
He noted that PharmaPlast’s investments in the local market and the free zone at Amreya is estimated to be about $250 million.