MNB Company plans to invest EGP 240m to launch a new pharmaceutical factory which will include several production lines in Borg El Arab in Egypt, according to Mohamed Bazazo, head of the company.
Bazazo said that the inauguration of the first phase of the factory will take place in 2021 as it will increase the company’s business.
He pointed out that the company’s bsuiness reached EGP 150m and it plans to increase this amount in the coming period.
“We are an international pharmaceutical company of Egyptian origin. We have three offices globally, the Egypt Office for business administration in Egypt and Africa, the British Office for Business in Europe, and the Emirates Office for Gulf management,” Bazazo elaborated.
He confirmed that the company’s plan is divided into two a vertical expansion through the establishment of a new plant with several production lines for pharmaceuticals, as well as a horizontal expansion by increasing the number of medicines registered at the ministry of health.
Moreover, Bazaza pointed out that the company pays a great attention to the Egyptian market, and that there is an expansion plan in Egypt aiming to increase the size of its business, inreasing the company’s market share during the next five years.
