Investing in South Africa
Dubai group invests in SA packaging13 October 2010 Dubai-based diversified group Darvesh is to invest up to R200-million in South Africa's packaging materials industry over the next five years, starting with a new manufacturing plant in KwaZulu-Natal. An independent family business operating for over 100 years, Darvesh recently commenced business operations in South Africa, with the entry to market of their building materials, commodity and speciality products. As part of its plans for South Africa, the US$500-million group will invest an initial R100-million locally in 2011 to establish a packaging materials manufacturing plant in KwaZulu-Natal. "We are excited at the prospect of introducing our business concepts into South Africa, and will commence building the packaging materials plant in KwaZulu-Natal in 2011, which will not only create employment, but also introduce highly sophisticated technology and equipment to the local packaging industry," Darvesh MD Ahsan Hassan Darvesh said in a statement this week. "Once completed, our facility will have the capacity to produce 15 000 tons of stretch film annually in the region."
Mutually beneficial relationshipThe group has also embarked on a joint venture with global design, engineering and management consultancy WSP Group to launch their fully scalable digitisation of critical building blueprints in South Africa, which offers key art digital solutions to both government enterprises and the private sector. "Darvesh are eager to form a mutually beneficial relationship with South Africa, ensuring stimulation of economic growth through investment and in turn assisting in the achievement of the socio economic goals of the country," Darvesh said. With a presence of over 30 years in the Middle East region, Darvesh has diversified into three business arms namely industries, trading and technologies. It has since expanded into Asia, Africa, Europe and Russia. SAinfo reporter
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