$30m Pepsi plant commissioned

14 Jun, 2018 - 16:06 0 Views
$30m Pepsi plant commissioned


14 June 2018

ZIMBABWE is set to export Pepsi products including the Pepsi cola, Mirinda (Orange and Fruity), Mountain Dew and 7UP to neighbouring countries following the commissioning of a $30 million Pepsi plant by President Mnangagwa yesterday.

The plant will see the country exporting Pepsi products to Zambia, Botswana, and Tanzania among other countries.

Indian beverages manufacturer, Varun Beverages, who are behind the establishment of the plant say the plant is already running on full capacity producing 400 x 500ml plastic bottles per minute.

Varun Beverages is a subsidiary of RJ Corporation head-quartered in India.

Addressing guests, the Head of State commended the Indians for establishing the state-of-the art plant in the country.

“This investment by Varun Beverages is in sync with our national industrial development policy objectives and strategies where we seek among other issues to reequip and modernise obsolete equipment and machinery in line with new technologies that will ultimately increase the economies of scale and product competitiveness.

“I therefore encourage you to grow your export market in the region and beyond using Zimbabwe as the production hub and for this part my administration stands ready to facilitate processes and regulations that enhance and promote export and economic growth.

“Whilst investments attends to be steadily attractively increasing from afar and wide my Government is continuously monitoring our investment culture to ensure that it remains conducive and open for business to grow and succeed to modernize our economy,” he said.

His Excellency also called on all prospective local and foreign investors to form partnerships.

“Meanwhile I urge prospective local and foreign investors to form partnerships and joint ventures in order to strengthen their business attitude and enhance their competitive urge,” he said.

Speaking on the sidelines of the event, Varun Bevarages chairperson, Ravi Jaipuria, said they chose Zimbabwe because it’s heading towards the right direction.

“I believe in Africa and as the Indian people the next biggest investment opportunity is on this continent.

“I also found the people here and the government so supportive. Even though they are a number of challenges I feel Zimbabwe is heading in the right direction.

“It will take sometime for Zimbabwe to come to where we want it to be but I think it’s a great start and we want to invest more into this country,” he said.

He also said he is looking forward and will wait for an improvement of the foreign exchange availability in order for the business to have returns.

Currently the manufacturer is importing Pepsi products cans from Zambia and only making plastics.

There are also plans to establish a juice and potato plant that will also encourage foreign currency generation.

Cabinet Ministers Honouble Patrick Chinamasa, Honourable Mike Bimha, Oppah Muchinguri-Kashiri and Minister of State for Harare Metropolitan Miriam Chikukwa graced the event.

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