Indian Co to invest $15 m in Sri Lanka in beverage plant
A Consumer products maker in India- Dabur India has announced that it would invest $15 million in Sri Lanka to set up a new export -oriented beverage manufacturing plant to cash in on the rising demand for fruit-based beverages.
Dabur India makes health and hair care products under the brand ‘Dabur’ and ‘Vatika’ and fruit-beverages under ‘Real’.
The company, has signed an agreement with the Board of Investment of Sri Lanka (BOI) for this venture to be started in Sri Lanka
Dabur has set up Dabur Lanka Pvt Ltd, to be incorporated under its wholly-owned unit Dabur International, which handles overseas operations.
“As continued high growth is expected in the future too, we are setting up this new facility to augment our production capacity for fruit-based beverages and meet the growing demand.” Chief Executive Sunil Duggal has told Reuters.
The new plant, which will be set up at Gampaha, north of Colombo, will have a monthly capacity of 280,000 cases and will be commissioned in Aug-Sept 2012.
Dabur has manufacturing plants in Nepal, Bangladesh, Dubai, Nigeria, Egypt and Turkey among others.
About 22 per cent of Dabur’s sales come from international markets, including African nations, Nepal and Bangladesh.
“Building manufacturing facility in Sri Lanka was an important strategic decision for Dabur as manufacturing presence here gives us a competitive edge that we intend to utilize in full,” Duggal has said.
Source: Government News Portal
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