29.07.2013 - SWF from Saudi Arabia along with Korean firm to establish venture firm in West Africa
A sovereign wealth fund from the Kingdom of Saudi Arabia and a diversified industrial Korean firm had signed a memorandum of understanding for the formation of a joint venture enterprise in West Africa. The Islamic Corporation for the Development of the Private Sector, or ICD, signed an agreement with Kolon Group of South Korea to invest in a pharmaceutical plant in Cote d'Ivoire. The ICD is the private sector arm of the Jeddah, Saudi Arabia-based Islamic Development Bank Group. The group of investors wanted to set up a joint venture company in the Western African region. They will start by investing in a pharmaceutical plant in the Republic of Côte d'Ivoire and by engaging in the marketing of pharmaceutical products in West Africa...............................................Full Article: Source
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