Cabinet hails Tetra Pak's R500m investment boost

23 Apr 2024

Cabinet has expressed its approval of President Cyril Ramaphosa's reopening of the Tetra Pak facility in KwaZulu-Natal, drawing in a R500m investment.

Source: Pexels

The investment forms part of the Presidential Investment Mobilisation Drive, where government set the ambitious target in 2018 to attract R1.2tn investments over five years.

“Last year at the fifth South Africa Investment Conference, which marked the end of the first phases of our investment mobilisation cycle, more than R1.5tn in investment commitments were raised.

"These investments translate into new factories, jobs in communities and greater economic activity around our country. Cabinet is confident that our investment drive will reignite economic growth and uplift our economy,” a Cabinet statement said this week.

Tetra Pak is a global leader in packaging and processing solutions for the food industry and has had a presence and manufacturing footprint in South Africa since 1963.

Source: SAnews.gov.za

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