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FINANCIAL NEWS
Swiss Nestle to open plant in Egypt
24 Jun 2014
(MENAFN) Swiss food giant Nestle has launched a new confectionery plant in Egypt and plans to further expand in Dubai, according to Arab News.
Nestle’s plan came after its food and beverage competitors, such as Coca-Cola Co, PepsiCo. and Saudi Arabia’s Almarai, constructed multi-million-dollar plants in Egypt.
The new USD9 million worth plant will be located in 6th of October City on the outskirts of Cairo, and is an extension to Nestle’s existing dry goods factory for products such as Maggi and Nescafe.
Nestle will make chocolate-based Crunch snack for the domestic market, but will export its production to North African markets such as Libya in the future, Zone Director for Asia, Oceania, Africa and Middle East.
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