Friday, June 2, 2023

Nestlé announces US$100 million investment in Colombia

Bogota.– The Swiss multinational food company Nestlé announced that between this year and 2026 it will invest US$100 million in Colombia, with which the company will be able to increase its production capacity, accelerate its digital transformation and guarantee operational sustainability.

The company said in a statement that it is the materialization of an agreement reached between the National Government and Nestlé, within the framework of the participation of the Colombian president, Gustavo Petro, in the Summit of the World Economic Forum in Davos, Switzerland.

Within the investment plan, Nestlé announced on Friday the inauguration of a new production line for its Milo brand at the Bugalagrande plant (Valle del Cauca, southwest), with an investment of more than US$13 million, which will allow it to increase in 15% its export capacity.

This plant was founded in 1944 and is the only multi-product plant in Colombia, as well as being the company’s first in the country.

“What we have inaugurated is an investment of US$13 million and an announcement of US$100 million more. This means, these days, a demonstration of confidence in Colombia, in its future, undoubtedly, because these investments are not short-term, they are to last”, assured the head of state, who was present at the inauguration of the new line of Milo production.

For his part, the Minister of Finance and Public Credit of Colombia, José Antonio Ocampo, celebrated “Nestlé’s commitment to Colombia, through these US$100 million of planned investment. We hope to continue working together to make it effective.”

Nestlé explained in a statement that the investment will be distributed among the different companies in which it has a majority stake, which will allow it to locate resources in cities such as Bugalagrande, Valledupar, Dosquebradas and Mosquera.

Meanwhile, the executive director of Nestlé for the Americas, assured that “the announcement of our investment strategy for the next three years has only one meaning: we believe in Colombia and its development potential.”

The executive explained that the decision to invest in Colombia will allow them to strengthen the product portfolio and that it manages to “align itself with some of the Government’s priority points in terms of youth employability, promotion of human rights and construction of peaceful communities, and it is committed to to develop concrete initiatives to reduce polluting emissions and take care of the planet”.


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