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Thursday, 9 March 2017

MIlitary Production Ministry announces pipeline of healthcare, manufacturing projects

The Military Production Ministry is looking to export goods (both military and civilian) to African states and plans to partner with companies in those countries, Military Production Minister Mohammed Al Assar said at a meeting with ambassadors, Al Mal reports. On the sidelines of the meeting, the ministry also announced that the signing of a cooperation agreement with Emirati company Al Etihad to establish a polythene and polypropylene pipes manufacturing plant, according to Al Borsa. He did not disclose the investment value. The ministry is also establishing an artificial turf manufacturing plant in cooperation with an unnamed German company. The ministry is also making moves in the healthcare industry, announcing two projects in the health sector worth USD 115 mn. The first, a USD 100 mn oncology meds factory, will be in partnership with Pharco Pharma. The ministry is also partnering with an unnamed Chinese company to develop a safe syringes factory. The ministry made sure to note that it is not involved in manufacturing infant formula, which is the purview of the Defense Ministry Health exports will not include baby formula, as the Ministry only produces health equipment, according to Al Mal.

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