Key Points
New Delhi: Nestl India Ltd will invest 4,200 crore by 2025 to expand the manufacturing capacity of its noodles, coffee and chocolates portfolio, the packaged foods companys India chief said, as it spots opportunities in selling both mass and premium products in the country...
This includes roughly 900 crore in the new factory investment in Odisha," Suresh Narayanan, chairman and managing director of Nestl India, said on Friday..
Earlier this month, Nestl India received in-principle approval from the Industrial Promotion and Investment Corp. of Odisha Ltd (IPICOL) to build its 10th factory in the country at an investment of 894 crore..
The announcement aligns with the companys existing plans to allocate 5,000 crore to build new research centres and factories in India by 2025..
Narayanan said domestic volumes rose 4-5% during the quarter, including high single-digit growth in the milk and nutrition portfolio, similar growth as in the previous quarter for the chocolates and confectionery portfolio, and double-digit growth in value-added noodles..
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