The Thai unit of Swiss food giant Nestlé has said it plans to invest Bt2bn (US$47.3m) to expand production capacity in Thailand this year.

Nestlé (Thai) chief executive Graham Campbell said the company had invested Bt3bn in the country in the last few years.

“We will have new investment of Bt2bn for this year to upgrade and expand capacity at our three existing plants,” Campbell was quoted by Reuters as saying. He added that the funds would come from loans and the parent company.

Campbell said he expected revenue to grow between 5% and 7% this year from Bt26bn last year, boosted by sales of coffee and diary products.