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US MEVAC plans to invest EGP 1.8B in Egypt

US MEVAC plans to invest EGP 1.8B in Egypt

ArabFinance: Cairo-based vaccine manufacturer MEVAC plans to invest EGP 1.8 billion over three years to establish three new plants in Egypt for manufacturing veterinary and human vaccines, CEO Magdy El Sayed told GAFI chief Mohamed Abdel Wahab in a meeting this week, according to a cabinet statement.

The company also plans to build a 100-feddan farm for the production of eggs, which are used in manufacturing vaccines, without specifying a timeline or an investment value.

MEVAC is majority-owned by US ingredients manufacturer Kemin, which acquired an undisclosed stake in the firm in March. The company has held a share of MEVAC since 2010 but recently upped its stake to increase its presence in the global vaccine market and became a shareholder in its sister firm UVAC.

Founded in 2007, MEVAC owns over 22 plants worldwide and exports its products to 15 countries worldwide.

 

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