UKRAINE: Mareven, Nissin to build instant foods plant
Mareven Food, Russia's largest producer of instant food and Japan's Nissin Foods, are planning to build a factory to make instant foods in the Kiev region of Ukraine.
The plant, which will make noodles, mashed potatoes, instant bouillons and seasonings, is set to be completed by the end of the year.
The production of the new plant will mainly supply the Ukrainian market and neighbouring countries.
According to sources in Mareven, the initial investment in the project will amount to US$30m.
The companies plan further investment to further expand production capacity and marketing activity.
An official spokesperson for Mareven said: "Currently, Ukraine remains an attractive market for both companies which have brands with great potential here."
Technocom, based in Kharkov, remains the largest Ukrainian producer of instant food in Ukraine and holds about 95% of the market.
Mareven and Nissin joined forces last year when the Japanese firm bought a 33.5% stake in Angleside, the Russian group's holding company.
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