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FINANCIAL NEWS
US Mondelez International to invest USD90m in plant in Bahrain
01 Oct 2014
(MENAFN), the packaged food company, announced it is planning to build a USD90 million biscuit plant in Bahrain, which will help the company reduce costs and meet growing demand for its biscuits, Arabian Business reported.
The maker of Oreo and Cadbury chocolate is planning to start full commercial production in early 2016, with the operations of four manufacturing lines and an initial capacity of 90.000 tons annually in the plant, which is set to create about 300 jobs.
The US company said it predicts that USD3 billion in gross-productivity savings, as well as USD1.5 billion in net savings and USD1 billion in cash will be generated by the factory over the next three years .
This investment comes after Mondelez already investing more than USD75 million in a Kraft Cheese and Tang-powdered beverage plant in Bahrain.
“This investment in Bahrain is part of our ongoing supply-chain reinvention plan. We’re implementing several such initiatives around the world to capitalize on growing demand, while also reducing costs and improving productivity,” Mondelez International Executive Vice President said in a statement.
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