19 Mar 2007
Abu Dhabi: The UAE Offsets Group said yesterday it would set up one of the region's largest manufacturing plants for intravenous (IV) solutions in Abu Dhabi.
According to the group, the plant will be set up under a joint venture between Alfia Investment Company, an Offsets fund, and the Abu Dhabi-based Bin Nawi Group.
Announcing the plan, the two firms, without disclosing the cost of the project, said the facility will be set up in Abu Dhabi's Mussafah industrial area.
The new company will operate under the name National Medical Solutions (Mahaleel).
Bin Nawi will acquire 51 per cent of Mahaleel, while Alfia will hold the rest.
The plant will produce all types of solutions, including plasma expanders, dehydration fluid, nutritional solutions and electrolyte solutions in bottles.
It will initially be designed to produce nine million units of IV fluids annually, with potential for future expansion.
"This joint venture is a decisive step in our activities as it targets meeting the rising demand for IV solutions all over Mena (Middle East and North Africa) region," said Mohamad Saif Al Mazroui, Chief Executive Officer of the Offsets.
Saif Mohammad Al Hajeri, board member of Alfia and director of Offsets Ventures Unit, said the firms have been waiting for an opportunity to create a unique facility that will serve the region by offering the best quality IV solutions.
He said: "In forming the joint venture with Bin Nawi, we look forward to expand our co-operation in the future."
It is estimated that by 2008, the demand for IV solutions in GCC countries will more than double to 39.2 million litres per year. The demand in Mena will surge to 471.2 million.
"We are pleased to join hands with Alfia, a company with a proven history of setting up successful, viable and sustainable ventures, to offer best products and services solution to our clients," said Mohammad Mubarak Al Mazroui, chairman of Bin Nawi Group.
"We are confident that this new partnership will compliment and accelerate the efforts aimed at improving efficiency of healthcare services in the UAE and the region at large, and help in meeting the rising demand for IV solutions, " .
Mahaleel aims to initially capture a market share of 3.6 million litres. It is projected that the company's products will corner 15 per cent of the UAE market, and three per cent of the GCC market.
By Nissar Hoath
Gulf News 2007. All rights reserved.
