The National Bank of Egypt (NBE) has signed an agreement to participate in the capital increase of the Arab Company for Pharmaceutical Raw Materials (Arab API), alongside several leading national institutions. The initiative supports the state’s strategy to localise pharmaceutical raw material production, strengthen the domestic industry, and reduce reliance on imports.
The project aims to establish Egypt’s first multi-purpose plant for the production of high-quality active pharmaceutical ingredients (APIs) on an area of approximately 96,828 square metres in the Ain Sokhna industrial zone. The facility will serve as a cornerstone for ensuring a reliable and sustainable supply of pharmaceutical raw materials to local manufacturers and exporters. It is expected to enhance the availability of essential medicines, lower import costs, and conserve foreign currency resources.
Mohamed El-Etreby, Chairperson and CEO of the National Bank of Egypt, said the initiative is part of the bank’s ongoing role in supporting the national economy by prioritising the localisation of strategic industries that contribute to self-sufficiency and market stability. He emphasised that the project aligns with Egypt’s Vision 2030, given its direct impact on citizens’ quality of life and the sustainability of the healthcare sector.
El-Etreby added that the venture exemplifies a successful model of partnership between national banks and industrial and investment institutions, balancing economic returns with the state’s broader developmental goals.
Soha El-Turky, Deputy CEO of NBE, noted that the bank’s participation in Arab API marks a major step toward establishing a solid industrial base for the pharmaceutical sector. She said the project is expected to generate sustainable investment returns while adding value to the Egyptian economy through enhanced competitiveness and export potential.
El-Turky also highlighted that a comprehensive environmental impact study had been conducted to ensure full compliance with environmental preservation standards, sustainable resource management, and public health requirements.
Ahmed El-Saeed, Head of Investments and Executive Trustee at NBE, stated that the bank’s contribution represents 10% of the company’s capital within a large-scale investment project valued at EGP 6.6bn, with an expected capital of EGP 3.3bn.
The company’s founding partners include several major national institutions, notably the Arab Company for Drug Industries and Medical Appliances (ACDIMA), the Egyptian International Pharmaceutical Industries Company (EIPICO), the Economic Zone Investment Company under the General Authority of the Suez Canal Economic Zone (SCZONE), and the Agricultural Bank of Egypt (ABE).
The establishment of the Arab API plant is expected to mark a transformative milestone for Egypt’s pharmaceutical industry — reinforcing the country’s industrial base, expanding export opportunities, and ensuring greater resilience and self-reliance in the health sector.
