FMCG giant Nestle has announced that it is intending to invest €40 million ($47 million) to upgrade its production capabilities in Portugal, with 80% of the amount to be invested this year.
According to Terranova, the investment will be made in the next 18 to 20 months in two plants – one in Avanca in the central region of Portugal, and one in the northern city of Oporto – in order to support product innovation and improve production efficiency.
At the Avanca plant, the company plans to upgrade its beverage and cereal production lines to increase production capacity and further support innovation in infant nutrition. At the Oporto plant, which produces Nescafe products, the firm is expanding its manufacturing capacity.
Commenting on the investment, Paulo Fagnoni, who took over the leadership of the Portuguese subsidiary this year, said: “The acceleration of investment in Portuguese factories and in Portuguese brands sends a message of strong continuity”.
Nestle is also developing a Nestle Business Centre in Portugal, which is set to employ 400 staff by the start of 2019.