Moneycontrol
Get App
you are here: HomeNewsBusiness
Last Updated : Aug 02, 2019 08:35 PM IST | Source: PTI

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

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

 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

FMCG major Nestle on August 2 said it will ramp up its production capacity by investing around Rs 700 crore in two years to set up a new factory in Sanand, Gujarat to manufacture its range of popular instant noodles Maggi. Nestle India would soon commence construction of its ninth plant, which would generate employment to around 400 people, it said in a statement.

"In line with our commitment to 'Make in India', we will soon commence construction of our newest, and ninth factory in India, at Sanand, Gujarat," Nestle India Chairman and Managing Director Suresh Narayanan said.

This plant would be a "significant step" in enhancing Nestle's manufacturing footprint in India, he added.

Close

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

"This state of the art, environmentally sustainable factory for MAGGI Noodles will involve an initial investment of nearly Rs 700 crore over the next two years, generate employment for about 400 people, where we are keen to embrace diversity through at least 50 per cent women employees," he said.

In 2018, Nestle India had a revenue of Rs 11,292.27 crore.

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

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

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

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.
First Published on Aug 2, 2019 08:35 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant