Vitabiotics to invest EGP 1 bn in Egypt business
UK-based nutraceutical player Vitabiotics will invest EGP 1 bn in its Egypt arm over the next five years to expand production capacity, Vitabiotics Egypt Chairperson Yasmine Zayed tells Amwal Al Ghad. The investment is expected to finance upgrades to the group’s manufacturing capabilities which will allow Vitabiotics Egypt to locally produce 24 additional products here. Vitabiotics’ local arm is a joint venture with Magic Pharma.
Meanwhile, keep an eye on Macro Pharma: The Alta Semper-backed company is an industry leader and has hired CI Capital and Rencap to quarterback an IPO in the first half of this year.
IN OTHER INVESTMENT NEWS- DB Schenker and DHL are interested in getting involved with more logistics projects in Egypt, German ambassador to Egypt Cyrill Nunn told Transport Minister Kamel El Wazir yesterday. DB Schenker’s Egypt arm is already working on the Sixth of October dry port build-operate-transfer contract as part of a consortium with Elsewedy Electric.