SAGIA and Emaar Sign MoU with Sanofi-aventis

JEDDAH - Saudi Arabian General Investment Authority, or SAGIA, and Emaar, The Economic City, or Emaar.E.C, have signed a memorandum of understanding with Sanofi-aventis to establish a unit of the pharmaceutical company in King Abdullah Economic City, or KAEC.

Developed by Emaar.E.C, with SAGIA as the prime facilitator, KAEC has emerged as one of the global hotspot investment destinations. Sanofi-aventis is one of the first pharmaceutical majors to establish a significant presence in KAEC. Amr Al Dabbagh, governor, SAGIA; Fahd Abdul Mohsen Al Rasheed, chief executive officer, Emaar.E.C; and Antoine Ortoli, senior vice-president, Sanofi-aventis, signed the MoU in Riyadh and Paris, recently.

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