The largest beverage company based in neighboring Lebanon, Kassatly Group Holding, has started construction work on a new factory in Cyprus under “Boutique Beverage Bottling Int’l Ltd” as part of its ambitious plans to become a global player in the market.
The factory will be located in the municipal boundaries of Ypsonas in the Limassol district. It will be operational before the end of 2023, with the company announcing the opening of more than 100 new jobs.
The company’s founder Akram Kassatly stressed that they chose to make this investment in the country as, on the one hand, the tax incentives offered are attractive and, on the other hand, due to the country’s geographical position as a crossroads of three continents, the company’s exports will increase.
At the same time, the project will include office and storage space, loading/unloading platforms for products and raw materials, as well as parking spaces for vehicles.
The total cost of the project, owned by the Lebanese-owned G.Y.A. PROPERTIES LTD, is estimated at €12 million. The owner of the company is the Lebanese Akram Kassatly, who is also president of KASSATLY CHTAURA, which has been active in the bottled drinks market since 1974 and is based in the Lebanese capital, Beirut.