Guatemala City, by Yuliza Muñoz- Guatemala has welcomed the Indian company Pakka Inc. which presented a new bilateral investment and development project.
During a ceremony held at the Patio de la Paz, the company unveiled details regarding the plan, which foresees an investment of more than USD 250 million over the next decade.
The President of Guatemala attended the ceremony, welcomed the entrepreneurs, and thanked them for choosing the country to create new opportunities.
The president stated, “We are happy and grateful for the arrival of Pakka Inc. The executives of this Indian company that produces sustainable packaging from agro-industrial waste, especially sugar residues, the company has trusted in Guatemala to invest,”
This launch was attended by Pakka Inc.’s CEO, Ved Krishna, and India’s Ambassador to Guatemala, Manoj Kumar Mohapatra.
Commitment to Development
Under the guidance of the Ministry of Economy, the Government of Guatemala seeks to work hand in hand with India for the proper follow-up and execution of the project.
The Guatemalan President reaffirmed his commitment to ensure that this plan surpasses all expectations and benefits both nations. Also, the president mentioned that the necessary guidance would be provided to start as soon as possible.
“We are confident that Guatemala will exceed your expectations and that we will work under the same vision of promoting economic and social development for the population. We are here to be your allies, Mr. Krishna. We are here to help and support you so that you can receive all the necessary authorizations to start up as soon as possible,” commented the President.
This launch was attended by Pakka Inc.’s CEO, Ved Krishna, and India’s Ambassador to Guatemala, Manoj Kumar Mohapatra.
About the Company
Pakka Inc. is an Indian company that produces packaging using sugarcane bagasse as raw material.
According to Pakka’s CEO, the executives visited at least eight Latin American countries in search of the best option and place to invest.
“When we landed in Guatemala, we felt that this was our home. It was an initial excitement; we focused on all the criteria. We realized that the Government of Guatemala supports and provides the necessary assistance,” Mr. Krishna stated.
The company also announced that it is currently looking for a location for Pakka in Guatemala. The necessary funds will then be invested, and operations are expected to begin in 2025.
