Procter & Gamble to invest EUR 133mn in building plant in South Africa.

By bne IntelliNews March 18, 2013
Global consumer products company Procter & Gamble (P&G) plans to invest some ZAR 1.6bn (EUR 133.2mn) to build a multi-category manufacturing plant in South Africa, BDay Live reported. According to Dimitri Panayotopoulos, P&Gs vice-chairman in charge of global business units, the new plant would make South Africa the companys manufacturing hub for the markets of Southern and East Africa. Construction of the new plant is expected to start in 2014, with production expected to commence in 2016 or early 2017. The plant is expected to create over 500 jobs. P&G built in 2009 a ZAR 500mn plant for production of Pampers nappies in Johannesburg. Africa attractiveness for investment by consumer product manufacturers is increasing, as a growing middle class and accelerating urbanisation suggest a strong rise in consumer spending. The Economist Intelligence Unit predicts that by 2030 Africas top 18 cities could have a combined spending power of USD 1.3trln.

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