EIPICO, kambal International to establish plant in Sudan

Each company paid $9mln from the investment value

  
Quality Engineer inspecting product in production process at medical industry. Image used for illustrative purpose.

Quality Engineer inspecting product in production process at medical industry. Image used for illustrative purpose.

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ArabFinance: Egyptian International Pharmaceutical Industries Company (EIPICO) (PHAR) signed with kambal International to establish a pharmaceutical plant in Sudan with investments of $30 million, according to EIPICO’s statement released on April 21st.

Each company paid $9 million from the investment value, the statement highlighted.

It’s expected to construct the plant during two years, as EIPICO has finalized the necessary studies to establish the plant, EIPICO’s chairman said.

The listed company will distribute annual cash dividends of EGP 2.95160 per share on April 28th.

The company’s consolidated net profit reached EGP 487.4 million in 2020.

EIPICO is an Egypt-based public shareholding company that operates in the pharmaceutical industry. It is a manufacturer and exporter of pharmaceuticals and holds license agreements with a group of international pharmaceutical companies to produce their products locally and replace the imported ones.

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