Ibnsina Pharma launches “Ramp Logistics” to invest LE 440M in third party logistics services

CAIRO – 8 November 2021: Ibnsina Pharma announced that its investment arm AIM has established Ramp Logistics, a pure logistics service provider that will offer warehousing, transportation, and other third-party logistics services.

Ramp Logistics has logistics areas in two locations serving pharma customers. It will start its expansion plan with an investment of LE 440 million in a new warehouse to double its storage capacity, according to Ibnsina Pharma’s filing to the Egyptian Exchange (EGX),

The company added that the third-party logistics business will be spun off to Ramp Logistics, which is 99 percent owned by AIM.

The Managing Director of Ibnsina Pharma, Mohsen Mahgoub, said our investment arm “AIM” established a subsidiary called “Ramp Logistics“ a logistics service provider to cater for the growing demand for warehousing and transportation outsourcing in different business sectors in Egypt while eying regional expansion.

The company added that Ramp Logistics signed a deal with Orchid Kuwait Egyptian Company to build a new warehouse in the 10th of Ramadan area over an area of 31,000 square metres (sqm) to double its storage capacity to serve pharma and other sectors.

"The planned expansion by Ramp Logistics in collaboration with developers is considered a new model for expansion that will allow Ramp Logistics to lower the required initial CAPEX needed for expansion and extend the payment of investment cost over a long period which will have favourable financial implications,” Co-CEO of Ibnsina Pharma, Omar Abdel Gawad, said

Ibnsina Pharma has established AIM with an issued capital of LE 300 million as part of its diversification strategy to expand in logistics and digital transformation.

Ibnsina Pharma operates within the pharmaceuticals, biotechnology & life sciences sector focusing on pharmaceuticals.