Nestle’s $43M bet on Ukr.

Nestle will invest $42.88 million to launch a new production facility in western Ukraine, the company said Monday.

Nestle, is one of very few international companies to announce new investments in the war-torn nation since Russia invaded in February.

“This is an important move for Nestle, taken in a very challenging time for the country,” Alessandro Zanelli, Nestle chief executive officer for South Eastern Europe Market, said in a statement.

“We aim to create a food and culinary hub, ensuring incremental jobs and serving the needs of Ukrainians and all European citizens with high quality products.”

Russia’s invasion has wrecked Ukraine’s economy, which is projected to shrink by 35% this year, according to International Monetary Fund estimates.

In recent weeks power blackouts have spread throughout the country as Russia intensified attacks on Ukrainian power facilities.

Nestle, which already has about 5,800 employees in Ukraine, is planning to add 1,500 new jobs at the new production facility in Smolyhiv in the Volyn region.