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Egypt’s Ibnsina Pharma will lease 11k sqm of warehousing space in Egypt’s Yanmu East Logistics Park, a JV between our friends at Hassan Allam Utilities and Kuwait’s Agility Logistics Park, according to a statement. The move looks to strengthen the firm’s distribution capacity and meet increasing demand for pharma goods. The investment ticket and a timeline for the project have not been disclosed.
Background: Hassan Allam and Agility formed a JV dubbed Yanmu in March 2023 to set up and operate two logistics parks in Egypt, Yanmu East and Yanmu West. Yanmu Logistics Park inked an agreement with Egypt’s Commercial International Bank in September 2023 for an EGP 1.5 bn (USD 48.5 mn) loan to finance the construction of Yanmu East Logistics Park.
Yanmu’s been busy: Haier agreed to lease 11k square meters for a warehouse at Yanmu East Logistics Park earlier this month. The project is set to strengthen Haier’s supply chain efficiency by using Yanmu’s easy access to key markets and transportation routes.
About Ibnsina Pharma: The firm, established in 2001, is one of Egypt’s largest pharma distribution companies, the statement notes. Ibnsina distributes a host of pharma goods to over 350 local and international players, with a fleet of around 830 vehicles.
