Global food and beverage maker Nestlé announced Thursday that the company laid a foundation stone for its first infant formula production plant in Russia, a move that will expand the variety of the company’s infant nutrition products available in the country. The Swiss firm is investing CHF 30 million, or about $30.7 million, in the project.
“The plant will be part of the existing Vologda site, where Nestle has successfully operated for 14 years. It will strengthen Nestlé’s leading position in the Russian infant formula market, and support export to neighboring countries,” a company press release said.
The company said the project is in line with its efforts to focus capital expenditures on high-growth areas like coffee, pet care, and infant nutrition.
Slated to become active by 2019, the plant will feature state-of-the-art equipment and technologies to reduce its environmental impact.
Nestlé currently operates 8 plants in Russia.