Everest Spices plans to set up processing units in Zanzibar

at an investment of about Rs. 100 crore, said Sanjeev Shah, Executive Director of the company.

He was addressing the media on the occasion of the visit of President of Zanzibar, AM Shein, to the company headquarters.

Zanzibar is an archipelago in the Indian Ocean and a semi-autonomous region of Tanzania.

Spices such as cloves, nutmeg and cinnamon produced on the islands are traded globally.

Exports
Using Zanzibar as a base, Everest will export its products to the African market.

Shah said his company has entered into a memorandum of understanding with the Zanzibar Government for setting up the production units. It could take three years to get the production online, as the site and viability studies are still underway.

Products from the units would be made for African cuisine but some Indian spices such as chillies could also be added to the final product for enhanced flavour, he said.

Port
He said Zanzibar being close to Tanzanian ports will also help in reaching the market across the continent.

Shein said Zanzibar is making additional efforts to increase production of agriculture products such as rice and spices, which will help companies such as Everest.

Modern technology in agriculture is also a top priority for the Government and therefore talks are also underway with automobile companies such as Mahindra and Mahindra.

Using Zanzibar as a base, Everest will export its products to the African market