February 15 (SeeNews) - Croatian food, beverages and drug producer Podravka [ZSE:PODR-R-A] said on Wednesday it has opened a factory in Tanzania, its first in Africa, as part of its internationalisation strategy.
The factory, Vegeta Podravka Ltd Tanzania, is located in the town of Bagamoyo where the government has been focusing its development efforts, Podravka said in a Ljubljana bourse filing.
The factory covers an area of 17,000 sq m and is valued at 4 million euro ($4.2 million). It should employ some 200 workers in total.
Podravka began to explore the African market in 2014, and Tanzania emerged as the most favourable country for running a business.
Currently, Podravka's goods are available in all modern supermarkets in Tanzania, but the company aims to also put its products on the shelves of the more traditional markets.
Podravka is also present on the markets of Kenya, Zambia and Uganda.
Podravka exports its output to more than 60 countries, has 15 own companies on different markets, 12 branches, its own distribution network in 9 countries and 17 production facilities in four countries.
($=0.9493 euro)