Nes­tle in­vest­ing US$43 mil­lion on plant in Philip­pines

The Myanmar Times - - International Business -

Swiss food gi­ant Nes­tle will spend 2 bil­lion pe­sos (US$43 mil­lion) in the Philip­pines on a plant to pro­duce a key in­gre­di­ent for its Milo bev­er­age.

Nes­tle Philip­pines chair Jac­ques Re­ber said the plant, due to be com­pleted in Oc­to­ber 2017, would pro­duce a malt ex­tract cur­rently im­ported from Sin­ga­pore. Nes­tle al­ready has five plants in the Philip­pines and has in­vested al­most 14 bil­lion pe­sos in the coun­try over the last five years, the com­pany said.

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