Multinational food and drinks giant Nestle, has announced an investment of $103.58 million to build the first plant-based food facility in China.
The investment will include the expansion of the existing pet food plant, an upgrade of the production line of confectionary business, the fist plant-based production facility in Asia and will also further develop its Tianjin Nestle Quality Assurance Centre.
The company sees this trend as “a significant opportunity” and this investment plan will try to meet this demand.
Mr. Rashid Qureshi, chairman and CEO of Nestle Great China Region, said, “Nestlé has a strong commitment to China and has long been dedicated to deepening our roots in the Chinese market”.
“In the spirit of Nestle’s ’Creating Shared Value’ principle, we expect these projects to boost sustainable economic development in local communities by driving food manufacturing expansion and product innovation,” Mr. Qureshi added
Sources: Nestle PR