Nestle to invest USD 70mn in South African operations.

By bne IntelliNews February 4, 2011
Nestle, the world's biggest food group, plans to invest ZAR 505mn (USD 69.4mn) into the South African economy, the African Business Review reported. Nestle South Africa plans to build two new factories and create 350 permanent jobs after recently acquiring a soya processing company in Potchefstroom, the portal said quoting company representatives. A new cereal factory will be built in Babelegi, Pretoria at a cost of ZAR 244mn. The group also plans to build a Maggi factory, producing noodles and other brand products, at a cost of ZAR 155mn. Nestle South Africa has invested ZAR 106mn in acquiring Potchestroom-based Specialised Protein Products. Nestle will reportedly create 350 jobs and upgrade facilities at the soy creamer processing plant.

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