Category: Investments News

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Uganda-China collaboration to revive Katwe Salt Project with US$736.5 million

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UGANDA – A joint venture between Uganda’s Rwenzori Salt Industries and Chinese company Shining Star Group is seeking to invest Ush. 2.7 trillion (US$736.5 million) to revive the Lake Katwe Salt Project in Kasese District. According to reports by Business Focus Uganda, the JV known as Rwenzori Shining Stars Limited will utilize the salt brine as a raw material to produce between 50,000-100,000 tons of salt per year. In addition, they will produce phosphate for fertilizer production, glasses, batteries and chlorine for treatment of National Water and Sewage Corporation-NWSC plants.…

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Nestlé joins EU cage-free egg call as Nespresso expands Swiss facility to meet rising demand for coffee

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SWITZERLAND – Swiss food manufacturing conglomerate Nestlé is now using only cage-free eggs in all its food products in Europe, as part of its wider commitment to animal welfare. To accelerate industry wide adoption of the practice, the company has now joined a call for the European Union to outlaw cages in animal farming, starting with laying hens. Nestlé says the call was inspired by the results of the European Citizens’ Initiative ‘End the Cage Age’ which calls for the end of cages in animal farming across Europe. In 2018,…

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Meatless Farm, Barvecue to build new plant-based facilities in North America

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CANADA/US – Plant-based companies Meatless Farm and Barvecue have announced plans to build new facilities for their respective business in North America. Meatless Farm, a UK based firm, said that it is building a new facility in Calgary, which will have the capacity to produce up to 14,500 tonnes of plant protein ingredients by 2023. The company says its facility with an initial investment of US$12 million will be the first-of-its-kind in Canada and will enable the UK firm expand into producing customised plant proteins for selected external partners across…

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DS Smith to invest in two new packaging facilities as Belvac boosts can development capabilities

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EUROPE – British multinational packaging company, DS Smith has announced a £100 million (about US$139 million) investment in two new packaging sites in Europe to meet increased customer demand. One of the planned facilities will be located in Belchatov, Poland while the other will be situated in Castelfranco Emilia, Italy. Construction works at the sites are expected to begin in earnest with operations anticipated to start within the next two or three years. The facilities will be dedicated towards to the production of sustainable paper-based packaging. DS Smith projects that…

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Oatly to build plant-based oat drinks factory in UK as Arla Foods proposes closure of creamery site

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UK – Swedish vegan brand Oatly has unveiled plans for a new plant-based dairy manufacturing plant in Peterborough at a time when Arla Foods is contemplating closure of its Trevarrian Creamery in Cornwall. For Oatly, the facility which is expected to be completed in early 2023 and create over 200 jobs would be its first in the United Kingdom. The company has partnered with food and drink capital investment firm Integrated Food Projects to build its new facility. The facility,accordin to the Swedish company, will be able to produce 300…

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Nigerian manufacturing major Mamuda Group commences operations on newly built confectionary factory

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NIGERIA – Mamuda Group, one of Nigeria’s leading manufacturing company has inaugurated its multi-billion Naira confectionery factory, under its subsidiary Mamuda Foods Company. The factory built in Kano State will undertake production of biscuits and chocolates, promoting local manufacturing. According to an insider’s report, Bosch Thermotechnology, the leading manufacturer of energy-efficient heating products, provided the firm with a 3-ton boiler. For its energy requirements, Mamuda is leveraging on its recently launched 22.5 megawatts gas power plant. The powerplant has an installed cryogenic storage tank with a capacity of 110M and…

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Ugandan dairy processor Pearl Dairy nears completion of honey processing factory

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UGANDA – Pearl Dairy Farms, Uganda’s largest dairy processor has revealed that its honey processing facility is 90% complete and will be commissioned beginning of April. The producer of Lato Milk brand announced its diversification from the dairy industry last year, revealing that it will invest more than Ush10 bn (US$2.7m) into commercial honey production. The move is in a bid to create an additional revenue stream, given the challenges that are facing the country’s milk sector of not accessing most East Africa Community markets. The program is also undertaken…

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Edible oil processor Bidco Uganda undertakes second palm oil production project to boost output

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UGANDA – Bidco Uganda Limited, Uganda’s leading producer of edible oil and the only company that owns and operates palm oil plantation in East Africa, is seeking to double its output to 80,000 tons. BUL, jointly owned by Wilmar International, Josovina Commodities Pte Ltd. of Singapore and Bidco Africa Ltd. of Kenya, is already producing as much as 40,000 tons of palm oil from its Bugala island estate on Lake Victoria, reports Bloomberg. The company is establishing its second palm oil project on Buvuma Island and targets to have 1,000…

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Budweiser injects US$159m into UK breweries to bolster brewing capacity

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UK – Budweiser Brewing Group UK&I, a subsidiary of global beer giant AB-InBev, has announced a more than £115 million (about US$159 million) investment in its two major UK breweries to increase capacity and efficiency. The investment aims to enable the brewer meet the growing demand for beer – which it says reached record sales levels last year in the off-trade – and help drive post-pandemic economic recovery. As a result of the surging demand, Budweiser has predicted double-digit sales growth in the off-trade this year – of some 12%-15%…

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Retail giant Walmart to invest US$350bn in US manufacturing to revive economy, create jobs

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US – American multinational retail corporation Walmart has announced plans to invest upwards of US$350 billion in US manufacturing over the next 10 years. Through the initiative, Walmart hopes to create more than 750, 000 new jobs for Americans while at the same time contributing to the nation’s economic growth. This is not the first time the retail chain, which is one of the largest in the world, is making such grand commitments. In 2013, it made a commitment to invest US$250 billion in products made, grown, or assembled in…

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