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NEC seek new joint ventures

By Vision Reporter

Added 3rd November 2002 03:00 AM

THE National Enterprises Corporation (NEC) Pharmaceuticals, a subsidiary of the NEC Group run by the Uganda Peoples Defense Forces (UPDF) is seeking joint ventures with investors in pharmaceuticals, housing, shoemaking and production of identity cards for

By David Muwanga

THE National Enterprises Corporation (NEC) Pharmaceuticals, a subsidiary of the NEC Group run by the Uganda Peoples Defense Forces (UPDF) is seeking joint ventures with investors in pharmaceuticals, housing, shoemaking and production of identity cards for the army.

NEC chief Lt Col. Fred Mwesigye said that joint ventures were needed in the pharmaceutical company to enable the factory produce at full capacity of 400million tablets, 90million capsules, 200,000 litres of anti-biotics and 192,000 litres of syrups per year.

Others are nine metric tons of creams and ointments and five metric tons of toothpaste per year.
“After completing the plant and the related works, the production proceeds needs working capital of shs 4,107,639,560, out of which sh 3,253,306,000 is for raw materials, sh 845,859,560 for packing materials and sh 8,474,000 for quality control materials,” he said.
He was last week briefing visiting Australian investors Nick Mountstephen and Director of Headline Media Peter Waters.

The two investors, under the invitation of the Uganda Investment Authority (UIA) were accompanied by Uganda’s Consul General to Australia Dr. James Lukabyo are in Uganda to seek investment opportunities.

The two had earlier had talks with UIA boss Margaret Kigozi.
Mwesigye said that NEC has a farm with 1,000 animals and can produce both hides and skins and use the skins to manufacture shoes. “However government pulled out and advised us to seek joint ventures,” he said.

NEC seek new joint ventures

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