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Thursday, 6 April 2017

Tahya Misr and Vacsera complete insulin plant feasibility study, to start construction in July

State-owned company Vacsera and the Tahya Misr Fund have completed feasibility studies for the USD 30 mn insulin plant that they will begin building in July, Fund Director Mohamed Ashmawy told Al Borsa on Wednesday. The plant is part of a joint Vacsera-Novo Nordisk project that aims to help Egypt meet its domestic demand for insulin and eventually grow into an exporter. Novo Nordisk is expected to cover 50% of the project’s costs, while the Tahya Misr Fund will contribute around 33-35%, with Vacsera covering around 10%, former Vacsera CEO Nabil El Beblawi said.

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