Project
Description
JPM started to implement a new replacement and expansion project
aiming at (i) providing a facility capable of meeting GMP
(Good Manufacturing Practice), FDA (Food & Drug Association),
and European standard requirements, (ii) increasing production
capacity in order to meet growing demand in the domestic and
export markets, and (iii) reducing cost to improve market
competitiveness. The Project includes a plan to construct
a new plant building and to supply it with new lines of production.
Project
Sponsors
The
Jordanian Pharmaceuticals Manufacturing & Medical Equipment
Company Ltd. (JPM) is a limited liability company established
in 1978 with a paid-up capital of JD 250,000 (US$0.352 million).
The Company is among the first five companies established
in Jordan for the production of pharmaceuticals for human
use. JPM underwent several increases in its capital. At present,
the capital of JPM amounts to JD8 million (US$11.3 million)
fully paid in 2000.
The
main shareholders of JPM are the Jordan Islamic Bank with
41.80% and Al Tawfiq Investment Company, a subsidiary of the
Dallah- Al Barakah Group with 10.60% stake.
Project
Location
The Company has its headquarters and production
facilities in Naor located about 25 km to the South-West of
Amman.
Project
Cost
The
total project cost is estimated at US$15.7 million.
ICD's
Role and Developmental Impact
ICD
participated in the capital increase of Jordan Pharmaceuticals
Manufacturing in the amount of US$8.3 million representing
33% of the capital of JPM. The presence of ICD would help
the company enhance its performance, identify new markets,
and reap the benefits of synergy through possible future partnerships
with other pharmaceutical companies in the ICD member countries.
