Cabinet welcomes R500 million investment for upgrade of Tetra Pak facility

Cabinet has welcomed the reopening of the Tetra Pak facility in KwaZulu-Natal by President Cyril Ramaphosa, which attracted an investment of R500 million. The investment forms part of the Presidential Investment Mobilisation Drive, where government set the ambitious target in 2018 to attract R1.2 trillion investments over five years. 'Last year at the fifth South Africa Investment Conference, which marked end of the first phases of our investment mobilisation cycle, more the R1.5 trillion 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 on Monday. 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. The factory was originally built 45 years ago, in 1979. Through this expansion, Tetra Pak will be exporting products to the continent. Source: South African Government News Agency