Algeria – Saidal Group to invest 100 Million Euros

April 2, 2013 5:45 pm0 commentsViews: 708
saidalmanufacturing

SAIDAL has a huge need of modernization….and the means for it.

The Algerian public pharmaceutical group Saidal has announced his decision to build three plants drugs for a total of 100 million euros.

The Algerian public pharmaceutical group Saidal has launched Thursday the process of making three new drug factories for a total of 100 million euros. The factories in El Harrach, a suburb of Algiers, Constantine (400 km east of Algiers) and Cherchel, in the department of Tipaza (80 km west of the capital), are respectively built by companies Bonatti (Italy), EMTE (Spain) and Softal (Algeria), according to APS (Algerie Press Service).

«These new units will be delivered between 2014 and 2015 and will help to increase the production capacity of the group Saidal by 75%» , said CEO of Saidal, Mr. Boumedienne Derkaoui after the signing in Algiers of the completion contracts.

Long-term credit

Algeria’s largest producer of drugs, the group Saidal has made ​​a net profit of two billion dinars (20 million euros) in 2011 against 1.1 billion dinars in 2010, an increase of 87%. He realized a turnover of 12.7 billion dinars in 2011, against 11.57 billion dinars in 2010, an increase of 7%. The group has obtained a public long-term credit with subsidized rates of 16 billion dinars (160 million euros) from the National Investment Fund (NIF) to finance its development projects.

Algeria seeks to reduce its imports of medicines by encouraging local production and by prohibiting the importation of products manufactured locally. In 2012, It imported $ 2.23 billion of pharmaceutical products, up 13.6% compared to 2011 (1.96 billion dollars). The volume of imports of pharmaceuticals has also recorded a “sharp rise” of more than 45%, from 24 468 tonnes in 2011 to 35,540 tonnes in 2012.

[by APS]

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