New Cuban-Italian Joint Venture to Produce Fresh Pasta

Havana, Jun 22 (Prensa Latina) The production and commercialization of fresh and stuffed pasta in Cuba, will be at the center of the work of the new Cuban-Italian joint venture Comital S.A.

The joint venture was constituted through the signing of the public deed between the S.A. Food Corporation (CORALSA), of the Caribbean nation; and the Italian entity Tecal PRO SRL, according to information disclosed today by the Cuban News Agency (ACN).

The investment will cost 3.3 million pesos (with parity to the dollar at official exchange rate) and will have an automated line for the production of pasta, with production and distribution methods according to European standards, the report said.

Nelson Arias, president of CORALSA, stressed that in order to increase the presence of these products, mainly destined to tourism and gastronomy, the construction of the factory will begin next September.

At the end of 2019 the commercialization of the first products is planned, he explained.

Arias explained that Tecal, present in Cuba for more than 20 years, expands its presence and demonstrates the confidence of investors and the attractiveness of the island as a place for foreign investment.

For her part, Elizabeta Pola, president of Tecal, stressed that Comital S.A., will offer lasagne, cannelloni and ravioli to the taste of the Cuban market.

She expressed that this joint venture represents a sign of new challenges and commitment to Cuba, since it aspires that traditional Italian food is consolidated for many years in the country.

Comital S.A. it becomes the 11th business with a direct foreign investment in the food industry and is the second to be completed in a six-month period as a new joint venture under Law 118 for foreign investment, according to the ACN report.

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