Pharma major Sigachi Industries forms JV to enter UAE market

Pharmaceutical industry company Sigachi Industries has announced the incorporation of a joint venture (JV) with iMass Investments as it looks to expand its global footprint. The joint venture between Sigachi MENA FZCO, a wholly owned subsidiary of Sigachi Industries Limited and iConsult Trading Consultancy LLC, a wholly owned subsidiary of iMass Investments will help the company to enter the food and pharma market of the UAE.

"Sigachi Global will create separate entities to manage Sigachi’s core verticals viz. Pharma (excipients and APIs), Food and Nutrition, and Operations and Management (O&M) as required. Sigachi MENA FZCO will hold 75% stake and iConsult shall hold 25% in the JV," the company said in an exchange filing. 

According to the exchange filing, Sigachi Global is estimated to have revenues of $54 Million by 2029.

Pharmaceutical industry company Sigachi Industries has announced the incorporation of a joint venture (JV) with Saudi National Projects Investment Limited (SNP) as it looks to expand its global footprint.

Earlier, Sigachi Industries's wholly owned subsidiary Sigachi MENA FZCO and SNP formed the new JV, namely Sigachi Arabia. SNP is an advisory investment firm. The JV will be a holding company that will create separate entities to manage its core verticals viz. pharma, food and nutrition, and operations and management (O&M).

The statement added that the JV is also planning to set up a manufacturing facility in Riyadh to cater to the local market. The plant will also serve the Gulf Cooperation Council (GCC) countries.

Saudi National Projects Investment is an advisory investment firm that provides multifaceted global and local expertise for building strategic and profitable partnerships. It has developed proprietary solution based analytical frameworks for businesses in Saudi Arabia and China.

SNP’s global team of investment analysts and managers have sourced, executed and closed over USD 50 billion of deals for global projects with end-to-end guidance and support for their partners.