Sanofi lays the foundation stone of its Industrial Plant
- Saudi Arabia: Tuesday, December 18 - 2012 at 15:46
- PRESS RELEASE
Sanofi, a global diversified healthcare leader lays its foundation stone in King Abdullah Economic City. Sanofi will be first global pharmaceutical company to establish its industrial facility with a 100 percent foreign direct investment in the Kingdom, as it was given a unique opportunity to develop its independent presence in the Kingdom in the year 2011, by establishing itself as an independent business entity facilitating its operations in Saudi.
This facility , which will see the creation of jobs, new technology and science, is being hailed as a major milestone towards supporting patient's needs in the Kingdom while giving Sanofi a strategic advantage to strengthen its existence in this important market.
The plant, which is to be built on a 35,000 square meter land, will initially produce oral anti-diabetic and cardiovascular products.
On this occasion, Mr. Philippe Luscan, Sanofi's Senior Vice President for Industrial Affairs declared: "We are delighted to be together today with King Abdullah Economic city our partner, in order to lay the cornerstone for the beginning of the construction works for Sanofi pharmaceutical factory in KAEC industrial valley zone. We are further proud that this pioneer project is the first of its kind in the Kingdom and the Gulf Area that offers world-class treatment solutions. In fact, the encouraging investment environment and the solid economic situation in Saudi Arabia have had a conclusive effect on our decision to go ahead with this project."
Mr. Fahd Al-Rasheed, Managing Director and CEO of KAEC, said: "We welcome investors such as Sanofi and give them all the assistance they need to establish their projects and maximize the strategic benefits of their presence in the Saudi and regional markets. In the case of Sanofi, we are especially pleased with their choice of KAEC for their first manufacturing facility since it contributes to the development of a thriving pharmaceutical industry that will bring great benefits to the Kingdom and its citizens. I am happy to say that our cooperation with Sanofi has been exemplary at all stages, from signing the agreement through to preparing the project study and on to the planning stage until we have now reached the laying of the foundation stone that signals the start of construction work for the manufacturing plant."
Mr. Antoine Ortoli, Sanofi Senior Vice President Intercontinental Region, added: "Sanofi is proud to consolidate its presence in the promising Saudi market through the exchange of experiences in research and production for the benefit of Saudi Arabia and its citizens. This cooperation will be reflected in locally-made medical treatments of high-quality and at affordable cost. Furthermore, Sanofi is committed to ensure appropriate training for Saudis specialized in the production of international-standard medicines' and treatments' solutions."
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