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FINANCIAL NEWS
Mondelez invests USD90m on factory in Bahrain
19 Jan 2015
(MENAFN) Mondelez International, the global maker of chocolate, biscuits, gum and candy, announced that it has begun the construction of its new USD90 million biscuit plant in Bahrain, Arabian Business reported.
The company said that the factory, which help in meeting the rising demand in the Middle East and Africa for brands such as Oreo, Ritz and TUC biscuits, is expected to reach full commercial production in early next year, with the plant set to operate four biscuit-manufacturing lines producing of Oreo, Ritz and belVita, Prince and TUC biscuits, as well Barni cakes during the initial 2 to 3 year phase.
The plant, which is Mondelez International’s second major investment in Bahrain after investing more than USD75 million in developing a Kraft Cheese and Tang powdered-beverage plant in 2008, will create 300 direct jobs during the initial phase, as well as sustain over 1.000 more jobs in local economy.
“Demand for our biscuits in the Middle East and Africa has been growing at double-digit rates and investing in a state-of-the-art facility in Bahrain will enable us to capitalize on this. This new investment is part of our journey to reinvent our supply chain around the world to meet growth demands, while also reducing costs and improving productivity,” Mondelez International executive vice president said.
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