Project Name JamJoom Pharma Expansion Project
Country Saudi Arabia
Sector Pharmaceuticals
Project Company Jamjoom Pharma
Project Cost USD 3.23 million
ICD mode of financing Murabaha and Istisna'a
Amount of ICD financing USD 3.23 million
Co-financier None
Board Approval Date June 29th, 2003


Project Description
Jamjoom Pharma intended to purchase raw and packaging material, and manufacture a stock of pharmaceutical products for the ophthalmic line.

Project Sponsors

Jamjoom Pharma (JP) is a separate department of the Jamjoom Group which is a 100% Saudi owned group. JP was established in 1999 for a total cost of around USD 29.4m financed through equity around 40 percent and debt 60 percent from Saudi Industrial Development Fund, Saudi American Bank and ICD. JP started operations in 2000. The company belongs to the Abdulatif Jamjoom & Bros Group which has long standing interest in the Pharmaceuticals and medical products sector having operated as distributors for reputed multinational companies for more than 50 years. The Company has previously benefited from a financing of ICD to the tune of USD 2.6 million.

Project Location

JP is located in the industrial zone in Jeddah, Saudi Arabia.

Project Cost

Total project cost is USD 3.23 million

ICD's Role and Developmental Impact

ICD extended the financing of a total of USD 3.23m (SR 12.114 m) divided as follows:

(a) USD 1.36m (SR 5.1m) for Murabaha to purchase raw and packaging material; and

(b) USD 1.87m (SR 7.014m) for Istisn'a to finance finished good for the ophthalmic line.

The pharmaceutical sector is a very important and strategic sector in Saudi Arabia. It is important to help local pharmaceutical manufacturers to strengthen their position in home countries and in ICD member countries, indirectly reducing the reliance on imports of pharmaceutical products. Moreover, Jamjoom Pharma exports to other IDB Group member countries that further encourage intra-trade between the member countries of the IDB.

. .

SODEGRAIN Flour Mill Project

AL Hadha Grain Handing & Silos.

Line of Financing : Byblos Bank SAL.

JamJoom Pharma Expansion Project.

Plastic Packaging Expansion Project (Daboul & Sayed)

Glass Containers (GCC).

SabaFon Expansion Project.

Dairy Palnt Project (ICFI).


Injazat Technology Fund.

The International Islamic Rating Agency (IIRA)

Middle East Healthcare Company (MEAHCO)

Thuraya Satellite Telecom Company

Jamjoom Pharma

Advisory Services Feasibility Study for the Investment Fund for the Development of Awqaf

Adritec Private Placement

Sudatel Telephone Exchanges Project

Jordan Pharmaceutical Company

Al-Ahlia Mineral Water Company

Syrian Saudi chemicals Company.

. .


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