JTI's Investment in Greece Boosts Tobacco Industry and Economy
According to a report by NewsIT on January 29th, Japan Tobacco International (JTI) has made further investments in Greece amounting to 40 million euros.
The company's investments have not only facilitated the successful transformation of the ΣΕΚΑΠ factory into a modern production line but have also opened up new export markets and successfully implemented "green" upgrades to the factory. In 2023, the annual tobacco production increased by 2%, reaching a current output of 50 billion cigarettes per year.
During the period of 2020 to 2022, JTI Company increased its investment in the ΣΕΚΑΠ production line by 112%. Furthermore, in 2023, 75% of the tobacco produced in this factory will be exported to 9 markets within the European Union, while the remaining 25% will be supplied to the domestic market in Greece.
Meanwhile, in accordance with its sustainability goals, JTI Company contributes over 2% of Greece's total public revenue each year. This contribution primarily comes from the payment of excise taxes and tobacco value-added taxes, demonstrating its strong support for the Greek economy. Additionally, JTI Company continues to contribute to the agricultural sector by sourcing high-quality Greek tobacco, directly or indirectly supporting 50,000 households within Greece through its business activities.
Currently, JTI has captured one-third of Greece's total tobacco production, representing a 50% increase compared to 2020.
In the Greek job market, JTI company plays a significant role. The company provides 300 high-quality direct job opportunities, and recently, its workforce has grown by 35% due to increased investment in heated tobacco products.
Furthermore, between 2020 and 2023, JTI Company's production unit in Xanthi has successfully reduced greenhouse gas emissions by 80%. Additionally, they have achieved a 60% reduction in energy consumption and an 80% decrease in water resource consumption, both of which are sourced from "green" sources. In terms of waste management, JTI Company has also achieved 100% recycling and utilization of production waste, effectively converting waste into energy.
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