Business / Local
PepsiCo franchisees sets up base in Zimbabwe
13 Nov 2015 at 15:08hrs | Views
A ground breaking ceremony for a beverages factory to be set up in Zimbabwe has been held in Harare's Adbernie light industries area.
Work on the beverage manufacturing plant initiated by Varun Beverages Zimbabwe will begin in two weeks time.
Varun Beverages Zimbabwe is a joint venture between an Indian and Zimbabwean company.
The setting up of the beverage making factory comprising a pet, canning and bottling plant is the culmination of a US$30 million investment by Indian conglomerate Varun Beverages which has teamed up with a Zimbabwean company Glaciem Private Limited.
The plant will create 600 jobs directly and 6 000 jobs indirectly.
Downstream spin offs are expected in source industries for key raw materials like sugar, water, carbon dioxide, chemicals, glass bottles and plastic shells among others.
Speaking at the groundbreaking ceremony for the plant Varun Beverages Group Chief Executive Officer Mr Krishnan Shankar said construction will begin within 15 days.
The project will be followed up by establishment of a potato processing and tomato paste manufacturing plants, a solar power project and health care initiative, bringing up total investment to US$250 million.
The Minister of Industry and Commerce Mike Bimha says the setting up of the plant is a significant long term investment which encourages healthy competition in the beverages sector.
Zimbabwe's ambassador to India Mr Maxwell Ranga says several Indian investors have shown interest to invest in the country.
A women entrepreneurship project by Varun Zimbabwe will also enable women to earn US$5 to US$7 per day through sales of Pepsi.
The company which manufactures Pepsi, Mirinda, and Mountain Dew soft drinks as well as bottled water has a global footprint spanning across India, Sri-Lanka, Nepal, Morocco, Mozambique and Zambia.
Work on the beverage manufacturing plant initiated by Varun Beverages Zimbabwe will begin in two weeks time.
Varun Beverages Zimbabwe is a joint venture between an Indian and Zimbabwean company.
The setting up of the beverage making factory comprising a pet, canning and bottling plant is the culmination of a US$30 million investment by Indian conglomerate Varun Beverages which has teamed up with a Zimbabwean company Glaciem Private Limited.
The plant will create 600 jobs directly and 6 000 jobs indirectly.
Downstream spin offs are expected in source industries for key raw materials like sugar, water, carbon dioxide, chemicals, glass bottles and plastic shells among others.
The project will be followed up by establishment of a potato processing and tomato paste manufacturing plants, a solar power project and health care initiative, bringing up total investment to US$250 million.
The Minister of Industry and Commerce Mike Bimha says the setting up of the plant is a significant long term investment which encourages healthy competition in the beverages sector.
Zimbabwe's ambassador to India Mr Maxwell Ranga says several Indian investors have shown interest to invest in the country.
A women entrepreneurship project by Varun Zimbabwe will also enable women to earn US$5 to US$7 per day through sales of Pepsi.
The company which manufactures Pepsi, Mirinda, and Mountain Dew soft drinks as well as bottled water has a global footprint spanning across India, Sri-Lanka, Nepal, Morocco, Mozambique and Zambia.
Source - zbc
