Online Reporter
Harmony Agere
Varun Beverages chairman Ravi Jaipuria says the company is committed to Zimbabwe’s industrial transformation following the commissioning of a new Cheetos snacks manufacturing plant and the launch of a juice and dairy blend facility.
Speaking at the ceremony, Mr Jaipuria described the projects as a major milestone in the company’s long-term investment strategy in Zimbabwe.
“Today we celebrate two important milestones — first, the inauguration of our Cheetos snack manufacturing plant and second, the foundation stone laying ceremony for our upcoming juice and dairy blend facility,” he said.
“Together, these projects represent another strong step in the long-term commitment to Zimbabwe’s industrial growth, employment creation, and economic transformation.”
Mr Jaipuria said Varun Beverages was in Zimbabwe to stay as it looks to make more investments.
“Today, I am proud to say that Zimbabwe has become one of the most important markets in our African journey,” he said.
“From one production line, we have now expanded into a world-class manufacturing operation with multiple beverage and backward integration lines, generating direct employment for around 2,000 Zimbabweans and supporting approximately 13,000 direct and indirect livelihoods.”
He described the new snacks plant as “a symbol of confidence in Zimbabwe” that would promote local manufacturing, import substitution, technology transfer and youth employment.
Mr Jaipuria said the company was encouraged by the market response to locally produced Cheetos products, adding that Zimbabwe had the potential to become a regional manufacturing hub for snacks and beverages.
The company also announced plans to invest US$650 million in Zimbabwe over the next five years across energy, beverages and recycling projects.
A major highlight is a planned green energy investment targeting 500 megawatts at an estimated cost of between US$300 million and US$350 million.
“But as His Excellency has told me that I should not stop at 500, I am going to take his blessings and go for one gigawatt,” Mr Jaipuria said.
He added that the group was also investing in larger beer production and a PET recycling plant to support local value addition and export
