ZAMBIA – Zambia’s bottling and beverage firm Fairy Bottling Zambia Limited has signed a deal worth US$50 million with the Zambia Development Agency (ZDA) in the expansion project for the manufacturing of plastic containers and production of non-alcoholic beverages, reports Daily Mail Zambia.
The initiative deemed Investment Promotion and Protection Agreement (IPPA) will see cooperation between the company and the agency in promoting trade and investment in the country.
“The project entails expansion of lines that manufacture and produce plastic containers, juices, bottled water, soft and energy drinks,” said Mary Ncube, ZDA chairperson.
The firm will undertake a development project that will involve various development activities geared towards sustainable economic development in Zambia.
“Our desire is to strengthen the bond of friendship and cooperation because we recognise the important contribution investment can make towards sustainable development,” said the company Chief Executive Officer Dr Mohamed El Sahyli.
Dr Sahyli said the company would continue to complement government’s efforts towards creating wealth for the country.
“It is our hope that the investment you will witness here today will create an unforgettable footprint in the respective fields for Zambia in the region.
“We believe that while promoting economic development maybe the government’s sole mandate, it really should be upon all of us to cooperate and support each other,” he added.
In 2017, the company said it invested US$70 million in the buying of equipment and manufacturing of mineral water and drinks from 2009.
Part of the funds were used to advanced machinery for the firm which produces Aquasavana pure mineral water and a wide range of superior carbonated beverages such as American Cola, Bubble up, planet juices and reactor energy drink.
It then said it was exporting its products to the Democratic Republic of Congo and Zimbabwe with plans to increase production capacity and export volumes.