Riyadh - Sharikat Mubasher: The Saudi-based Batterjee Holding Company plans to inject investments worth $250 million into the Egyptian medical and pharmaceuticals sectors within the upcoming two years, Mazen Batterjee, Chairman of the Board of Directors, revealed.
The company also plans to establish a facility to manufacture medical devices and incubators in Egypt with an initial investment amounting to $5 million, Batterjee stated in an interview with Asharq Bloomberg.
The official made these remarks on the sidelines of the visit of Majid Al-Qassabi, Saudi Minister of Commerce, to the Egyptian capital. Al-Qassabi was heading a delegation comprising Saudi entities and businessmen to explore means of deepening bilateral commercial ties between both countries.
The business portfolio of Batterjee Holding Company covers a wide range of industries from pharmaceutical, baby care products, medical supplies and equipment, fabricated steel structures and construction materials, personal healthcare and household detergents, food and beverages, garments and footwear, PE packaging products to oil and gas mining and recycling.
It is worth noting that around 7,000 Saudi companies are investing more than $35 billion in the Egyptian private sector, meanwhile, around 2,000 Egyptian companies are investing in the Saudi market.