Multinational food and drinks giant Nestle has announced investments of R$762 million ($135 million) in its Brazilian operations over the course of this year.
The investment is earmarked for both creating new manufacturing lines and modernizing existing ones in the company’s facilities in Sao Paulo, Espirito Santo, Bahia, and Minas Gerais. The investment will be also used to increase production efficiency and develop technical skills.
According to the company, Nestle will increase its investment by 40% compared to last year, when its capital investments were R$544.6 million ($102 million).
Luis Garcia Prieto, vice-president of technology and production at Nestle Brazil, said: “We maintained out planned investments planned for the year 2020 in hundreds of projects carried out over this period, especially in the opening of production lines, modernization, and new technology in our manufacturing units”.
Sources: Giro News