Saudi Arabian beverages company Aujan Industries is investing $100 million (Dh367 million) in two factories in Iran to tap the drinks market in the Persian Gulf’s most populous country. The company, whose portfolio includes the Rani brand juice, also plans to invest $30 million on expanding its manufacturing plant in Dubai Investment Park and modernization of the Dammam plant.
Aujan is building one beverage filling plant and one aluminum can making factory in an area near Tehran. The can manufacturing plant is a joint venture between the Saudi company and Iranian investors.
“Commercial production at both facilities is scheduled for the first quarter of 2008,” said Kerry Anastassiadis, president of Aujan Industries.
Similar projects are being considered in Iraq and North African countries. The company sees Iran’s 70 million population as holding huge growth potential in terms of beverage consumption.
“Iran is a very large market in terms of beverage consumption. Our brand Rani has been available in Iran for numerous years. To reflect our confidence in the Iranian market, Aujan has made an investment in excess of $100 million,” he said.