During the ceremony marking Labor Day, Dr. Saied Kamel, Chairman and CEO of Utopia Pharmaceuticals, presented the company’s new plant in 10th of Ramadan City.

He said that the plant was built on 18,000 square meters with investments totaling EGP 1.35 billion, adding that it also operates six production lines, with an annual capacity of 120 million packages, and employs 1,100 workers directly and 300 indirectly.

Kamel clarified that the plant produces 52 medicines, including 19 that substitute imported versions using 70–90% local components. Sales last year reached 2 million packages, saving the country about $16 million, he mentioned.

For his part, Ahmed Dawy, CFO of Beko Egypt, said that the company’s new appliance complex was built with Turkish investments worth $110 million over 114,000 square meters.

It will produce 1.5 million refrigerators, ovens, dishwashers, and freezers annually, with 65% of output intended for export, he added.

The plant supports about 2,000 indirect jobs and targets $250 million in annual exports, he stated. (MENA)

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