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news.Sanofi-aventis has entered into an agreement with Emaar, the Economic City (EEC), a company developing King Abdullah Economic City (KAEC), to establish manufacturing facility at the Industrial Valley in KAEC in Saudi Arabia.
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Sanofi-aventis is initially expected to produce oral antidiabetic and cardiovascular products in the new plant which is to be build in 35,000 square meter land.
The agreement was signed under the sponsorship of the Saudi Arabian General Investment Authority (SAGIA) which has played a key role in facilitating Sanofi-aventis’ decision to invest in the Saudi pharmaceutical sector and to establish itself within King Abdullah Economic City.
Fahd Al Rasheed, managing director and CEO of EEC, said: “The agreement with Sanofi-aventis marks the opportunities that KAEC offers manufacturers in strengthening their base in the Kingdom. We have given special attention to the pharmaceutical sector primarily because of the quality of jobs they create and the products they produce which contribute to the well being of Saudi citizens.”
Antoine Ortoli, senior vice president of intercontinental region at Sanofi-aventis, said: “We are delighted to continue to expand our activities in Saudi Arabia with the inception of a new entity located in King Abdullah Economic City which will further develop the pharmaceutical sector in the Kingdom.”