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Everest Spices is planning set up spices processing units in the East African country Zanzibar with an investment of about Rs 100 crore, said Executive Director of the company, Sanjeev Shah on Saturday.
He was addressing the media on the occasion of the visit of President of Zanzibar, A M 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.
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 (MoU) with the Zanzibar government for setting up the production units. It could take about three years to get the production online as site and viability studies are still underway.
The products from the units would be made for African cuisine but some Indian spices such as chillies could also be added to the final products for enhanced flavour, he said.
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