MEVAC plans to invest LE 1.8B in establishing 3 factories to produce vaccines

CAIRO – 28 July 2021: MEVAC for Vaccine Production Company plans to pump new investments worth LE 1.8 billion during the next three years, according to CEO of MEVAC Magdy El-Sayed stated

El-Sayed clarified Wednesday that these investments are to establish 3 factories for the production of veterinary and human vaccines, and to establish on an area of ​​100 acres to produce healthy eggs, which are used during the production process of vaccines.

This came during a meeting held by Mohamed Abdel Wahab, CEO of the General Authority for Investment and Free Zones, with Chris Nelson, CEO of the American "Kemen" company, one of the largest companies in the field of manufacturing veterinary vaccines in Egypt, the Middle East and Africa, in addition to the pharmaceutical and human vaccine industries, according to a statement issued today is Wednesday.

The American company "Kemen" is a major partner of the "Mevac" company for the production of vaccines.

The American company "Kemen" covers some of the needs of the local market and exports its products to more than 15 countries, which owns more than 22 factories around the world.

 For his part, Mohamed Abdel Wahab said that the meetings held by the Investment Authority with international companies operating in Egypt are part of the Authority's work plan to communicate with existing companies that seek to expand and increase their productivity, especially those that transfer modern technology from abroad.

He affirmed the authority's keenness to support and encourage private investments in a number of sectors targeted by the Egyptian government, to keep pace with the public investments implemented by the state.