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CHAMPION OF THE DAY
to open in Jeddah
Pharmaline Saudia is a joint-venture
between Malia and Al Rashid Group
Malia Group has signed a joint-venture agreement with Saudi Arabia’s Al Rashid Group to open a Pharmaline factory in Jeddah, Saudi Arabia. The factory will start operating in 2018.
“Pharmaline Saudia is an important milestone for the group, as it signifies our first direct presence in the GCC. We are confident that with Al Rashid Group, we will be able to bring Pharmaline’s products to a new and challenging market,” said Jacques Sarraf, chairman of Malia Group.
The investment in the new facility is still unknown, according to Sarraf, because several studies will be conducted to choose the companies that will construct and equip the facility.
“With this partnership, we will be transferring Pharmaline Lebanon’s know-how and expertise to the team in Saudi Arabia,” said Carol Abi Karam, General Manager of Pharmaline. She said that this will include the whole supply chain and policies, starting from procurement, covering manufacturing and quality assurance, as well as sales and marketing.
The factory will be located on a 60,000 square meter plot in King Abdullah Economic City.
Al Rashid Group is an owner and operator of several hospitals in Saudi Arabia.
Reported by Rania Ghanem
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Nov 10, 2015
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