Sigachi Industries, a leading pharmaceutical company, establishes a joint venture to penetrate the UAE market.
Pharmaceutical company Sigachi Industries has disclosed the formation of a joint venture (JV) with iMass Investments, aiming to broaden its global presence. The JV, a collaboration between Sigachi MENA FZCO (a wholly owned subsidiary of Sigachi Industries Limited) and iConsult Trading Consultancy LLC (a wholly owned subsidiary of iMass Investments), seeks to enter the UAE’s food and pharmaceutical market. Following the exchange filing, Sigachi MENA FZCO will retain a 75% stake in the JV, with iConsult holding the remaining 25%.
The establishment of Sigachi Global, anticipated to manage Sigachi’s primary verticals including Pharma (excipients and APIs), Food and Nutrition, and Operations and Management (O&M), is also outlined. As per the exchange filing, Sigachi Global is projected to generate revenues of $54 million by 2029.
Moreover, Sigachi Industries has recently formed another JV named Sigachi Arabia with Saudi National Projects Investment Limited (SNP), furthering its global expansion strategy. This collaboration, initiated by Sigachi MENA FZCO and SNP, aims to establish a holding company to oversee various verticals, including pharmaceuticals, food and nutrition, and operations and management (O&M). The JV is planning to construct a manufacturing facility in Riyadh to cater to the local market and the Gulf Cooperation Council (GCC) countries.
Saudi National Projects Investment Limited is renowned as an advisory investment firm, leveraging its extensive global and local expertise to foster strategic and lucrative partnerships. The firm boasts a team of investment analysts and managers with a proven track record of closing over USD 50 billion worth of deals for global projects, providing comprehensive guidance and support throughout the process.
