Economy > Investment

Nestle to further invest 102 million U.S. dollars in China

Xinhua News,TIANJIN
2020-05-21 10:46

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TIANJIN, May 21 (Xinhua) -- Swiss food giant Nestle announced an additional investment of 730 million yuan (about 102 million U.S. dollars) Wednesday to strengthen its business operation in China.

Nestle and the administrative committee of the Tianjin Economic-Technological Development Area (TEDA) signed a memorandum of understanding (MoU) on cooperation to build a plant-based product manufacturing facility, and boost the capacity of its local pet food factory.

The production line with a designed annual capacity of 8,000 tonnes will be Nestle's first of its kind in Asia.

Nestle opened its first factory in north China's Tianjin in 1994.
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