June 15/Vladimir, Russia/Prime-Tass English-language Business Newswire -- Switzerland-based food and beverage company Nestle signed an agreement with the government of Russia's Vladimir region to build a facility for the production of culinary products under the Maggi brand in the region's Vyaznikovsky district.
Nestle plans to invest 60 million Swiss francs, or about 1.6 billion rubles [roughly $51 million], in the first stage of the project, Stefan de Loecker, CEO of Nestle Rossiya, said while presenting the project. The facility is expected to produce over 100 items under the Maggi brand, which includes many popular sauces and seasonings.
Construction of the plant is slated to finish in July-September 2011. The facility is to produce over 30,000 tons of products annually. The plant is to employ 500 people.
From the June 16, 2010, Prepared Foods' Daily News
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