Consumer Goods Company Bidco Africa will enter new categories and expand its product portfolio as part of a strategy to achieve $1billion or Sh103billion revenue target in five years.
The Thika-based company said on Monday that it expects faster growth rate in the coming years, backed by its upcoming industrial park in Ruiru, estimated at a cost of $200million or Sh 20billion.
The industrial park, sitting on an 80acre parcel of land will house various manufacturing units including food and beverage plants expected to begin production later this year, with up to 2,500 jobs anticipated to be created from the multi-billion project.
Bidco’s Chairman Vimal Shah said the company will commission four new plants by end of the year at a cost of Sh5billion for the project’s first phase, while the second phase will cost in excess of Sh15billion through joint ventures and acquisitions as part of the firms’ diversification process.
“By the end of the year we will commission four new plants in the first phase representing an initial investment of $50million. The second phase will comprise an additional investment of $150million and comprise the last 6 6 factories spread over the next four years,” Vimal said.
Shah, who stepped down from his position early in the year as Chief executive was speaking during the company’s launch of Code of Ethics which seeks to uphold ethical standards for its employees.
941 total views, 2 views today