American company produces animal medicines in Egypt

The Egyptian Shousha Company for Investment and Development reached an agreement with an American company specialized in producing medicine in order to set up the first factory to produce animal medicines in El Gabal Al Asfar, east of Cairo with a cost of $45 million.

Karim Shousha, the deputy director of the company, mentioned that the Egyptian side will finance 60% while the American side will finance the remaining 40%. He refused to mention the name of the company saying that the name will be declared after the establishment agreement is signed later this month. He added that this will be the first factory in Egypt and the Arab region to produce animal medicines, beginning at the end of 1998. The products will be sold in Egypt for a period of 2 to 3 years, after which the products will be exported to Arab countries.