Sigachi MENA FZCO and Saudi NAtional Projects Investment Ltd to form JV

Sigachi MENA FZCO, a wholly owned subsidiary of Sigachi Industries Limited, and Saudi National Projects Investment Ltd (SNP), an advisory investment firm, have announced the formation of a joint venture (JV), Sigachi Arabia, to enter the rapidly growing Saudi Arabian market.

Sigachi Arabia will be a holding company that will create separate entities to manage Sigachi's core verticals viz. Pharma (excipients and APIs), Food and Nutrition, and Operations and Management (O&M). In about 3 years, a manufacturing facility is also planned to be set up in Riyadh to initially cater to the local market and later, to serve the GCC countries. Sigachi MENA FZCO will hold 75% stake and SNP, 25% in the JV.

"We are excited to partner with SNP to establish our presence in the Saudi Arabian market," said Mr. Amit Raj Sinha, CEO of Sigachi Industries Limited. "SNP's deep understanding of the local market and regulatory landscape, as well as their track record of success in executing and closing deals, make them the ideal partner for us."

Source : Equity Bulls

Keywords

SigachiMENAFZCO SigachiIndustries SaudiNationalProjectsInvestment SigachiArabia