ACI CO-RO Bangladesh Ltd, a joint venture between ACI Ltd and Danish soft-drinks company CO-RO A/S, yesterday opened a new factory to make fruit drinks under the Sunquick brand.

The plant is located in Araihazar upazila of Narayanganj, southeast of the capital Dhaka.

Agriculture Minister Md Abdus Shahid inaugurated the factory, which has already started trial production.

"Foreign investment in the agricultural product market is increasing day by day and that comes with product diversification," said Shahid.

He said CO-RO had shown confidence in the capabilities of Bangladesh and the potential of the nation.

"What ACI CO-RO is doing is truly commendable. They are procuring mango pulp from local sources and presenting quality products to consumers. They are sharing expert knowledge and creating employment opportunities in the local market," he added.

ACI CO-RO Bangladesh, established in 2019, started with an initial investment of $20 million.

"This collaboration aims to combine local expertise with international excellence for the good of the Bangladeshi consumer," ACI CO-RO said in a statement.

The company will launch three flavours of Sunquick's ready-to-drink products.

Shahid was thrilled by the prospect of growth in the agri-processing sector, saying: "It is an area that we aim to elevate to the same prominence as our well-established garment sector."

He added that Bangladesh's processed food market was expected to grow $5.8 billion by 2030, which presents abundant opportunities.

"We are blessed with a wealth of raw materials for fruit drink production. Our continuous growth in the production of fruits such as mangoes, jackfruits, lychees, pineapples, bananas, and guavas ranked top in the global market," he said.

The agriculture minister added that Bangladesh, with a population of 17 crore, offers a substantial market for foreign investors.

At the event, Danish Ambassador Christian Brix Moller said ACI CO-RO's commitment to delivering superior products aligns seamlessly with our shared values. "Investing in Danish quality is not just an investment in products, it is an investment in the well-being and prosperity of Bangladesh."

Soren Holm Jensen, president of CO-RO A/S, said ACI and CO-RO, said: "We have established a great organisation, and we are now poised to launch new Sunquick products across Bangladesh as well as export markets."

Arif Dowla, managing director of ACI Ltd, said: "This not only marks a milestone for ACI CO-RO, but also a significant stride towards redefining the ready-to-drink market in Bangladesh."