MHD signs deal to establish Pen-G – Oman’s first pharmaceutical manufacturing facility

  • Date: 14-Apr-2022
  • Source: Times of Oman
  • Sector:Economy
  • Country:Oman
  • Who else needs to know?

MHD signs deal to establish Pen-G – Oman’s first pharmaceutical manufacturing facility

Muscat: Mohsin Haider Darwish LLC (MHD LLC), one of the largest and pioneering business houses in the Sultanate of Oman, has signed an agreement with Ali Moosa Al Bulushi, National Bank of Oman (NBO), and SOHAR Freezone for the establishment of a first-of-its-kind pharmaceutical manufacturing facility in the Middle East and North Africa (MENA) region –Penicillin General Integrated Industrial Company (Pen-G). Under the agreement, Pen-G will be jointly owned by MHD LLC and Ali Moosa Al Bulushiand will establish a state-of-the-art fermentation plantfor the manufacture of key pharmaceutical start-up material at the SOHAR Freezone. NBO will be participating as the primary bank through which the project is being financed. The signing ceremony took place on Wednesday, 06 April 2022, at the Pen-G Head Office in Ghala. Present at the signing ceremony were Ali Moosa Al Bulushi;Mohammed Abdullah Al Kharusi - Chief Executive Officer, MHD LLC;Abdullah Zahran Al Hinai, Chief Executive Officer, National Bank of Oman;and Omar bin Mahmood Al Mahrizi, Chief Executive Officer ofSOHAR Freezone and Deputy Chief Executive Officer of SOHAR Port. Also in attendance at the event were other members of the executive and senior management of each of the four companies. Commenting on the project, Mohammed Al