Kassatly Group Holding, a major player in the regional beverage sector, said that it will move to the island by the end of next year
Lebanese drinks giant Kassatly Group Holding on Monday announced that it has started work on a new plant in Cyprus, as part of ambitious plans to move the brand from a regional powerhouse to a global player. According to the company, the mega plant in Ypsonas, Limassol, which will operate under the company’s local entity Boutique Beverage Bottling International Ltd, should be fully operational by the end of 2023.
Kassatly Group Holding, a major player in the regional beverage sector, said that it will move to the island by the end of next year. In addition, the company said that it aims to make the island its home within a year, creating more than 100 new jobs in the process. “The tax incentives in Cyprus are attractive, but it is the geographical advantages to Europe, Africa, the Gulf countries and the Americas, which are most appealing to us and, most importantly, having Mediterranean and European seals on our products, something coveted by consumers worldwide,” company founder Akram Kassatly said.
Discussing the logistics of moving an integral part of the business to Cyprus, Kassatly said the input, advice and professionalism of the team at the national investment promotion agency, Invest Cyprus, made the experience both enjoyable and pain-free. “Invest Cyprus played a huge role in our decision to make Cyprus our base,” he said. “Each step brought a positive surprise, namely exceptional and fast responses from the moment we submitted our business plan to the planning department’s prompt assistance to make the new plant a reality,” he added.
Welcoming the Kassatly Family to the island, Invest Cyprus Chief Executive Officer George Campanellas said it was always “a pleasure” to accommodate companies in their search for new markets in Europe and beyond. “Kassatly Group Holding has long been a leading regional player with its innovative beverages, so to be involved in the next phase of this pioneering company’s development is hugely rewarding,” Campanellas said.
“As the national authority responsible for attracting foreign investment and providing certainty to foreign companies operating in Cyprus, we are delighted to be able to provide the kind of platform that an ambitious company like Kassatly Group needs in order to fulfil its global aspirations,” he added.
“With Cyprus situated at the crossroads of Europe, Asia and Africa – something complemented by a highly-skilled, multi-lingual workforce, robust legal framework and the business-friendly environment – makes the island the ideal investment destination for business,” the Invest Cyprus CEO concluded.
Source: Cyprus Mail