CAIRO: The Egyptian state-owned Eva Pharma will establish a pharmaceutical company called Eva Smart in Al-Jazirah state in Sudan, Mubasher reported.
“Eva Smart is scheduled to be endowed with advanced production technology and will cost 15 million euro ($20.5 million),” said Hisham Eweis, a representative for Eva Pharma’s board of directors.
Eva Smart will start production by 2016, he said, adding that the factory will provide many direct and indirect job opportunities.
Sudanese Investment Minister Mustafa Othman Ismail and Egyptian Ambassador to Sudan Osama Shaltot broke ground on the future site of Eva Smart Saturday.
Ismail praised Egyptian and Sudanese relations over the past few years and said the total worth of signed agreements for Egyptian investments in Sudan amounted to $8.7 billion from 2000-2014, MENA reported.
He added that though only $1 billion of the signed agreements have been turned into actual investments, he hoped the remaining $7 billion in agreements can be executed in the coming period.
Eweis said the Sudanese government has allocated an industrial zone reserved only for Egyptian companies to meet the growing needs of Sudanese citizens and boost mutual trade.
Bilateral trade between the two countries amounts to $850 million annually he said, adding that this number does not reflect the two sides’ ambitions.
An investments forum is scheduled to be held on June 24 in the Sudanese capital Khartoum to discuss investment opportunities in Sudan.
In related news, Egyptian Trade Minister Mounir Fakhry Abdel Nour announced in March that Sudan and Egypt had agreed to reopen border crossings between the two countries, Al-Wafd reported.
“These measures would eliminate all obstacles between the two countries, increase goods exchanged between Egypt and Sudan and facilitate transferring goods to Sudan and the countries in Central Africa,” Abdel Nour said.