Jan 13 2008 |
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Julphar plans to invest in Yemen
Sana'a - The UAE-based Gulf Pharmaceutical Industries (Julphar) plans to spend about $406 million for expansion projects in seven countries including Yemen over the next three years, the Saba-run al-Syasiah newspaper said on Saturday.The expansion plans will be included establishing the manufacturing facilities in Yemen, Afghanistan, Sudan, Morocco, Lebanon, India and Iran during 2008-2010. Julphar will invest 15 percent of every joint project to be established with a local partner in every country.
The company unveiled last month that it plans to establish drug stores across the Middle East and North Africa in cooperation with the Global Investment House , which is the largest investment bank in Kuwait.
Julphar , based on the agreement, should also train the cadres of the YEDCO and the Ministry of Public Health and Population at the medicine factories and laboratories in the United Arab Emirates.
© IRNA 2008
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Comments By Our Users (1)
We appreciate very much this kind of news especially coming from reliable sources.I was in touch by email two weeks ago with Mr. Abdul Razak Yosouf -Chief Executive Officer of Julphar- who inform me that even now they haven't sign an agreement to become a shareholder with YEDCO of Yemen but on last Nov.2007 they had signed an agreement of technical assestance. Any farther agreement in the future regarding becoming a chareholder, they will announce it officially. We urge you, as a reliable source, to follow up this essencial case with Julphar & YEDCO officals and getting the exact information of WHEN, HOW and WHERE they are going to establish the joint project in Yemen and how much their share with YEDCO will be, which will meet our greediness of getting information. Wishing you the best.
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