INDIA: Nestle to invest in noodle production
By Kevin Jacobs | 22 June 2010
Nestle, the world's largest food maker, is looking to invest in noodle production in India.
The Swiss food giant, which owns the Maggi brand, confirmed to just-food that it has signed a memorandum of understanding with Karnataka's state government to invest INR3.5bn in its local production facilities.
Whether the investment would go towards increasing capacity at the existing Nanjangud facility or towards a completely new facility is yet to be finalised.
Nestle has also reportedly been in talks with government officials in a second Indian site, Himchal Pradesh.
The company has asked for 43 acres of land in Himchal Pradesh to build a food processing plant in the state, according to The Hindu Business Line.
A spokesperson for Nestle India said discussions over the possible investment in Himchal Pradesh had not been concluded.
Nestle currently has seven plants in India and employs over 5,000 workers.
Sectors: Chilled foods, Emerging markets
Companies: Nestle
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