Egyptian Pharmaceutical Firm Utopia has proposed to build a pharmaceutical plant in Abia State, seeking the support and endorsement of the Abia State government.
Delegates from Utopia, accompanied by their Chairman, Dr Kamel Mohamed, and Eze Apostle Gift Chibuzor Chinyere, the facilitator of the investment visit, paid a visit to Dr Alex Otti to discuss details on the proposed project.
“We are very happy with your presentation. And I’m very pleased that you are looking at setting up a production plant. Not just sales, because you could as well produce anywhere, sell, make profit and all that.” Otti said
“But for us as a government, it is important to generate economic activities. And you generate economic activity by production. Because when you set up a production plant, you create jobs. “Then, you improve the GDP of the State, you reduce poverty. And then you transfer technology, as you said.
” Even though there is still an argument in the literature whether technology is transferable or not. “So, you can take it for granted that this government will support you to set up the manufacturing plant, and from there, you can export to other parts of Nigeria and West Africa,” He added.
Ukwa and Osisioma Axis in Contention
Otti, speaking to the delegates from Utopia, said that the Ukwa and Osisioma axis should be considered for the project. He assured the delegates that land provision will not be a challenge.
He argued that the Ukwa axis has access to gas and a steady power supply from Geometric Power. He also said that issues of community relations would be handled by Eze Apostle Gift Chibuzor Chinyere.
Otti also handed over the delegation to the Commissioner for Health, Professor Enoch Ogbonnaya Uche, to continue discussions with the team and ensure that every necessary support is provided to facilitate the project.
Utopia Pharmaceuticals (S.A.E) is an Egyptian pharmaceutical manufacturer established in 2008, based in 10th of Ramadan City, Sharkia, with a factory in Cairo.
It produces medicines and healthcare products, generating around $53 million in revenue with roughly 721 employees. During COVID-19, it launched “Utopia of Good,” allocating 6 million pounds to treat those unable to afford care.
