Iran signs $7mn deals on herbal medicines with Uganda, Kenya

TEHRAN, Oct. 15 (MNA) – CEO of an Iranian knowledge-based company active in production of herbal medicines said the company has signed two agreements amounting to $7 million with Uganda and Kenya.

Hojjatollah Zabihi, the CEO of a knowledge-based herbal medicines production company, told Mehr News on Monday that his company has signed a $5 million agreement with Kenya, and a $2 million deal with Uganda for production of Iranian herbal medicines.

The agreements were signed during the recent visit of Vice-President for Science and Technology Sorena Sattari to the two East African countries. Sattari was accompanied by a high-ranking delegation comprised of officials and heads of 70 knowledge-based companies.

Zabihi said that under the agreements, the company will launch five production lines for five different products in Kenya and Uganda. He added that three production lines were for ointment, syrup and capsule, while the other two were for animal products.

Iran will produce the raw materials for these production lines for ten years and export them to these two countries, he added.

According to him, two Iranian knowledge-based companies will take care of the production and packaging of the medicines. The technical know-how will be transferred to Uganda and Kenya after two years, he added.

He said the implementation of the agreements will create jobs for 150-200 Iranian farmers, leading to $20-30 million of income in a year.

The company will send the required machinery to these two countries in a month, and run the first trial production in three months, he said.

By the end of 2018, the production of Iranian herbal medicines will officially kick off in Kenya and Uganda, he added.

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News Code 138705

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