By IANS,
New Delhi : Popular fruit drinks concentrate maker Rasna, which has presence in 40 countries, is planning to expand its operations to Africa and CIS countries.
Speaking on the sidelines of a business meet here, Rasna chairman and managing director Piruz Khambatta said the company would set up joint ventures with local firms to penetrate these markets.
“We are now aiming to enter new markets in the former Soviet region, including Uzbekistan, Kazakhistan, Kyrghyzstan and are also looking for expansion in African continent,” Khambatta said.
However he refused to give any detail about the joint venture talks.
Rasna set up its manufacturing facilities in two foreign markets this year – one in Bangladesh and the other in Egypt.
“There is a lot of potential still unexplored, especially in CIS (Commonwealth of Independent States that includes former Soviet states and Russia) and Africa. We want to have our manufacturing units there as most of these countries have a high customs duty of around 60 percent,” Khambatta said.
The company is also expanding its business in India by opening its Devil’s Workshop fast food chain outlets in 10 cities.
“We have 10 Devil’s Workshop outlets in Ahmedabad at present, and plan to introduce them in all four metros and six major tier I cities,” Khambatta said.
“The company also plans to introduce fruit drinks concentrate in sachets to consolidate in the mass market segment,” he said.