Econostrum | Economic News in the Mediterranean

Teriak obtains a loan of 5 million Tunisian dinars from the EBRD and Attijari bank Tunisia

Written by Frédéric Dubessy on Thursday, May 19th 2022 à 15:15 | Read 533 times

Teriak manufactures for large multinationals but also has its own range of generics (photo:Teriak)
Teriak manufactures for large multinationals but also has its own range of generics (photo:Teriak)
TUNISIA. The Tunisian company Teriak is to benefit from 5 million Tunisian dinars (€1.55m) of new money to improve its productivity and increase its energy efficiency. This sum is provided thanks to a loan from the European Bank for Reconstruction and Development (EBRD) in association with Attijari bank Tunisia, through a Risk Sharing Framework defined in 2020.

The pharmaceutical subsidiary of the Kilani group, founded by brothers Lassaad and Rafik Kilani in 1986, Teriak (created in 1996 and based in Tunis-Carthage) has four production sites in Jebel Ouest (32 km south-west of Tunis) and El Fejja (La Manouba, a north-western suburb of Tunis) in Tunisia, as well as two of the company Cinpharm, ex-Cadyst Invest, which was bought by the Kilani group in 2015, in Douala (Cameroon) and Abidjan (Ivory Coast).

On Tunisian soil, tablets, coated tablets, powder in sachets, sachets of liquids, capsules, dry syrups, syrups, suspensions, ointments, suppositories (Jebel Ouest) and capsules for inhalation and sterile forms (El Fejja) are manufactured. Teriak works under licence from large multinationals, but also supplies a range of generic products, particularly in therapeutic areas such as cardiology, neuropsychiatry, gastroenterology and oncology. It exports to North Africa, sub-Saharan Africa and the Middle East.

Acquisition of new machines

The 5 million Tunisian dinars will enable the company to acquire new machines and equipment, as well as to undertake maintenance work on its Jebal Ouest site. In particular, the company will renovate its wastewater treatment unit and steam boiler and install an automated energy management system.

In May 2019, Tiriak had obtained a total of €4 million in the form of a loan from the EBRD (11.7 million Tunisian dinars), technical assistance and a grant from the European Union (€0.5 million) linked to the European Neighbourhood and Enlargement Policy and its component of strengthening value chains and the competitiveness of SMEs.

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