Swiss food giant Nestlé is reportedly planning an investment of 170m yuan (US$20.5m) to expand its milk powder plant in northeast China.
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The company plans to double the annual output of the plant, which is situated in Shuangcheng in Heilongjiang province, to 200,000 tons, AFX Asia reported, citing local media.
According to the report the expansion is due to begin in October and once completed it will increase the raw milk processing capacity to 600,000 tons per year from 300,000 tons.
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Free Whitepaper
What is the impact of China’s Zero-COVID lockdowns on economic activity, consumer goods and the foodservice industry?
- Which multinational companies have been affected?
- What is the effect of lockdowns on foodservice?
- What is the effect of lockdowns on Chinese ports?
- Spotlight on Shanghai: what is the situation there?
- How have Chinese consumers reacted?
- How might the Chinese government react?
- What are the potential growth opportunities?
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