Ibnsina Pharma has announced that its investment arm AIM has established Ramp Logistics to offer warehousing, transportation, and other third-party logistics services.
The company said in a statement on Sunday to the Egyptian Exchange that the new company signed a contract with the Kuwaiti Egyptian Orchid Real Estate Investment Company to establish a huge warehouse in the 10th of Ramadan, on an area of 31,000 square metres, and with investments of EGP 440m. The new company will be responsible for 99% of Ibnsina Pharma’s logistics services. Ibnsina pointed out that Ramp owns logistics areas in two locations.
Ibnsina Pharm was established in 2001, and it distributes for more than 350 pharmaceutical companies, and serves more than 46,000 customers from pharmacies, public and private hospitals, and health units.
AIM was established with a capital of EGP 300m as part of its expansion plan in the logistics sector, digital transformation, and other sectors.