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Sigachi Industries Limited announces JV with iMass Investment in the UAE
Posted On : 2024-02-27 10:16:06( TIMEZONE : IST )
Sigachi MENA FZCO, a wholly owned subsidiary of Sigachi Industries Limited and iConsult Trading Consultancy LLC, a wholly owned subsidiary of iMass Investments have announced the formation of a joint venture (JV), Sigachi Global, to enter the growing UAE food and pharma market.
Sigachi Global will create separate entities to manage Sigachi's core verticals viz. Pharma (excipients and APIs), Food and Nutrition, and Operations and Management (O&M) as required. Sigachi MENA FZCO will hold 75% stake and iConsult shall hold 25% in the JV. Sigachi Global is estimated to have revenues of USD 54 Million by 2029.
Mr. Amit Raj Sinha, CEO of Sigachi Industries, expressed his excitement about the partnership: "We are delighted to join forces with iConsult. Their deep understanding of the UAE market and extensive network will be invaluable in introducing our high-quality API's, Excipients and Food and Nutritional Ingredients to new customers and addressing their specific needs. This partnership aligns perfectly with our vision to expand our global reach and provide innovative solutions that cater to the evolving food and pharma landscapes."
Mr. Khaled A. Al Mass, Founder of iMass Investments and Chairman of iConsult Trading Consultancy LLC., commented: "We are thrilled to embark on this transformative journey with Sigachi. This collaboration underscores our commitment to fostering partnerships in the Gulf region that drive innovation and create sustainable value for our stakeholders. Together, we will harness our collective expertise to address the evolving needs of the local customers and shape the future of food and pharma industries in the U.A.E. and GCC region."
The joint venture will capitalize on the complementary capabilities of both companies, combining iMass/iConsult's market knowledge and Sigachi's cutting-edge technology to deliver superior products and services to customers in the GCC.
