Indian Economy News

Nestle to invest Rs 700 cr to open a new plant in Sanand for Maggi

  • IBEF
  • August 5, 2019

Nestle plans to ramp up its production capacity by investing around Rs 700 crore (US$ 99.54 millon) in two years to set up a new factory in Sanand, Gujarat to manufacture its range of popular instant noodles Maggi.

Nestle India soon initiate development of its ninth plant, which would create work to around 400 people.

"In accordance with commitment to 'Make in India', will soon initiate development of our newest, and ninth processing plant in India, at Sanand, Gujarat," said by, Nestle India Chairman and Managing Director Suresh Narayanan.

This plant would be a "significant step" in upgrading Nestle's manufacturing footprint in India.

The company said half of the employees at its Sanand plant would be women.

The environmentally sustainable manufacturing plant for MAGGI Noodles will include an initial investment of almost Rs 700 crore throughout the following two years, create work for around 400 people.

In 2018, Nestle India had an income of Rs 11,292.27 crore.

Nestle India had set up its first manufacturing facility at Moga (Punjab) in 1961.

The company has different units in Choladi (Tamil Nadu), Nanjangud (Karnataka), Samalkha (Haryana), Ponda and Bicholim (Goa), Pantnagar (Uttarakhand).

In 2012, the company set up its eighth assembling office at Tahliwal (Himachal Pradesh).

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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