Nestlé announced the inauguration of its first-ever confectionery plant in Egypt. The inauguration of the new state-of-the-art chocolate extrusion line took place at the company’s dry goods factory in 6th of October City and was attended by Nandu Nandkishore, Executive Vice President Nestlé S.A., Zone Director for Asia, Oceania, Africa and Middle East, Roger Stettler, Senior Vice President Nestlé SA as well Suresh Narayanan, Chairman & CEO of Nestlé Egypt. The confectionery plant is the company’s latest expansion to its existing dry goods factory, representing an investment of over 65 million EGP and will introduce a new chocolate snacking product, Crunch triangles, to the Egyptian market.
“Egypt has massive consumer and labour potential, making it attractive for investment in the region. For Nestlé, Egypt is and will continue to be an important centre for trade and production. Our factories in Egypt produce and supply some of Nestlé’s biggest brands for the entire region,” said Nandkishore. “Nestlé’s latest expansion project in Egypt is particularly special for the company. Since 2011, we have invested close to 1 billion EGP in Egypt and doubled our local work force from 3,200 to our current 6,300 employees. This proves Nestlé’s commitment to the Egyptian market and the importance of its large scale labour and consumer potential.”
With its current strength over the ice cream sector, Nestlé is looking to gain more traction in the local snack foods market by expanding its production and offerings in Egypt. This category industry is one of the fastest growing sectors in Egypt, currently estimated at 1.6 billion USD with growing demand by teens and young adults dominating the current market. The company plans to further utilize its latest plant addition by continuing to present more confectionery brands to the local market in the future.
“We are thrilled to announce our continued investment in Egypt through the expansion of our local product offering and production lines. For the second time in less than one year, we are inaugurating a new plant in Egypt which will generate about 400 jobs directly & indirectly including 100 jobs in manufacturing,” said Narayanan. “Last November we celebrated the inauguration of our 200 million EGP state-of-the-art ice cream factory expansion. Today, the new chocolate production line represents the first time Nestlé chocolate is produced in Egypt.”
Since 2011, Nestlé has invested EGP 1 billion in the expansion of its Egypt based operations. The investment has included additions to its factories such as the newly inaugurated confectionery plant, the ice cream factory expansion last year, a recently expanded distribution centre in Luxor as well as CSV (Creating Shared Value) projects which help educate local communities on nutrition and other national topics such as road safety and waste management.
Sunday, June 29- 2014 @ 9:30 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.