Varun seeks more land

VARUN Beverages Zimbabwe (Varun) says it is in talks with the government to obtain more land to allow it to further expand its business.
Speaking at the commissioning of the company’s US$20 million water and bottles closure plants, chairman Ravi Jaipuria said the company has run out of space for further expansion.
“I don’t think we have too much to ask, the business is doing very well and I think the people have liked our product and we are going to keep on expanding.
“We have run out of space here and we have asked the government to give us more land so that our next expansion can kickstart, and we have been promised another piece of land. Once we have it, we can continue with our expansion,” Jaipuria said.
He added that with the future revenue and profits generated from the sale of carbonated drinks, the company is already looking at avenues of reinvestment like juices, dairy, education, healthcare, and hospitality.
Meanwhile, the company’s latest expansion gives it the capacity to do 20 billion bottles in a year, adding about 240 million bottles from the initial 750 million bottles that the company could do before the expansion.
“With this new expansion we will increase our export of beverages, preforms and plastic closures to Zambia, DRC, Botswana, Malawi and other neighbouring countries, which will bring sizeable foreign exchange into Zimbabwe,” Jaipuria said.
Speaking at the same event, President Emmerson Mnangagwa commended Varun’s progress since its inception and assured investors of the government’s commitment to continue improving the ease of doing business environment in the country.
“I am enthused to be with you today to commission the US$20 million fourth phase of the Varun Beverages expansion project.
“The fact that you have invited me to officiate at this commissioning ceremony demonstrates that you are indeed walking the talk with regard to fulfilling your pledges and commitments,” Mnangagwa said.
newsdesk@fingaz.co.zw

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