Cyprus’ potential as a prime investment destination received a boost with last week’s inauguration of two major manufacturing facilities, the Olympus dairy plant in Nicosia and the Kassatly beverage factory in Limassol.
The Cyprus Chamber of Commerce and Industry (Keve) regards these new industrial units as central in enhancing the country’s economic resilience and competitiveness. These developments boost job creation, local production and export opportunities.
“The establishment and operation of these plants highlights the potential of our country as an attractive investment destination, creating new jobs and promoting Cypriot production both locally and internationally,” Keve said in a statement.
With advanced technology and high production standards, the plants are set to play a crucial role in the food and beverage sector’s growth.
Among the key investors is Greek dairy product leader Olympus, part of the Hellenic Dairies Group, which has extended its operations to Cyprus with a €40 million facility.
The new establishment officially entered the halloumi production sector—Cyprus’ second-largest export—and is expected to bolster the local economy significantly.
Cyprus’ Agriculture Minister, Maria Panayiotou, said, “The activation of the ‘Olympus’ plant in Cyprus is a milestone not only for the company itself but also for the dairy industry of Cyprus.”
Additionally, Kassatly Chtaura, founded by Akram Kassatly in 1974 and renowned for its bottled Jallab, has launched its new facility in Limassol.
Nayef Kassatly, Director and Partner of Kassatly Chtaura Group, explained that the investment opens exciting prospects for Cyprus’ economy, enhancing the island’s manufacturing capability and export strength.
Keve has called for sustained support from the government to foster manufacturing as a critical component of sustainable development. “Strengthening the manufacturing industry and supporting such initiatives is a priority for Keve, as the development of the manufacturing sector is crucial for the economic development of Cyprus and the promotion of innovation” a chamber representative added.
