SPIMACO says Morocco plant completion likely by Q4 2021, trial production by Q1 2022

Logo  of SPIMACO Morocco 

Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) said that the mechanical installations and the qualification work at SPIMACO Morocco Pharmaceutical Industries are now in their final stages and expected to be completed during Q4 2021.

The trial production run of the Moroccan subsidiary is anticipated to start during the Q1 2022, the company added in a bourse statement.

In March 2019, the company announced that the electrical and mechanical construction services at the Casablanca-based pharmaceutical plant were completed, according to data compiled by Argaam.

However, the qualification process was rescheduled to begin in Q3 2019, due to a delay in receiving the required equipment, the firm then added.

In January 2017, SPIMACO announced that EVA Pharma’s, one of its subsidiaries, new plant in Morocco would be completed in Q4 2018 instead of Q4 2017.

SPIMACO owns 62.68% of Morocco-based EVA Pharma, a limited liability company engaged in manufacturing, marketing, importing and distributing pharmaceutical medicines and products.

In December 2016, the general assembly of EVA Pharma agreed to increase capital from MAD 250 million to MAD 470 million, with the aim of financing its project to build a new plant that complies with international quality standards on company-owned land in Casablanca, which was expected to be completed in Q4 2017.