India: Nestle to invest in new Maggi noodle plant

The Indian arm of Swiss consumer goods giant Nestle has announced plans to invest an initial sum of 700 crore INR ($98.6 million) over the next two years to set up a new plant for Maggi noodles.

Located in Sanand, Gujarat, the factory will be Nestle’s ninth in India and the fourth dedicated facility for Maggi noodles.

Commenting on the move, Suresh Narayanan, Nestle India chairman and managing director, said: “In line with our commitment to ‘Make in India’, we will soon commence the construction of our newest, and ninth, factory in India, at Sanand, Gujarat. This state-of-the-art, environmentally sustainable factory for Maggi noodles will involve an initial investment of nearly 700 crore INE over the next two years and will generate employment for about 400 people”.

Source: Live Mint