BD-Denmark jt venture co launches juice plant

ACI CO-RO Bangladesh, a Bangladesh-Denmark joint venture company, on Tuesday launched its juice processing plant aiming to cater to the growing demand for beverage products in the country.

The plant, located in Araihazar upazila of Narayanganj, will produce different types of fruit juice under the brand name Sunquick.

Agriculture Minister Dr Md Abdus Shahid was present as the chief guest at the launching ceremony held on the factory premises.

Danish Ambassador to Bangladesh Christian Brix Møller, chairman of ACI Group M Anis Ud Dowla, Managing Director of ACI Ltd Dr Arif Dowla, President of CO-RO Søren Holm Jensen, and Managing Director of ACI CO-RO Nils Ronnow were present on the occasion, among others.

Speaking on the occasion, Mr Abdus Shahid said Bangladesh is now the world's top ranking producer of rice, vegetables, onion, jackfruit, potato and mango.

He identified some challenges including sustainability of most smallholder farmers, reduction of the post-harvest loss, ensuring safety, climate stresses and changing food preferences with income growth for the agriculture sector.

"Investment in agriculture, therefore, is of paramount importance for several reasons, as it plays a significant role in the economic, social, and environmental well-being of our country," he said adding that growth of the country's processed food market is expected reach $5.8 billion by the year 2030.

"This is a testament to the abundant opportunities and resources that our country possesses," he said.

CO-RO's presence and investment here not only contribute to employment opportunities but also enhance Bangladesh's global image, he added.

Ambassador Christian Brix Møller said his office's goal is not only to foster strong ties between the two countries but also to promote mutual understanding and encourage investments that bring Danish quality to Bangladesh.

"ACI CO-RO's commitment to delivering superior products aligns seamlessly with our shared values," he said.

Dr Arif Dowla said the launch of Sunquick not only marks a milestone for ACI CO-RO but also a significant stride towards redefining the ready-to-drink market in Bangladesh.

"We are dedicated to leading the company towards continuous success and contributing to the prosperity and wellbeing of Bangladeshi consumers," he said.

According to the company sources, ACI CO-RO Bangladesh Ltd was founded as a green-field investment in 2019 to meet the growing demand of beverage in Bangladeshi consumer through an offering of delicious fruit-based European standard drinks under CO-RO's brand and quality umbrella.

A green-field investment is a type of foreign direct investment (FDI) in which a parent company creates a subsidiary in a different country, building its operations thoroughly.

ACI group holds 49.9 per cent shares of the joint venture (JV). The JV has made an investment worth around $20 million, which is likely to expand further.

Established in 1942, Denmark's CO-RO has expanded its footprints across 80 countries in the globe.

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