Business & Economy

Nestle announces $100 million investment in Colombia

Bogota, Jan 27 (EFE).- Global food giant Nestlé Friday announced a $100-million investment to scale up its operations in Colombia over the next three years.

The Swiss-based company said it would increase its production capacity, accelerate its digital transformation, and ensure operational sustainability in the South American country.

The investment pledge follows up on an agreement between the government of President Gustavo Petro and Nestle during the World Economic Forum in Davos, Switzerland.

Nestlé opened a new production line for its Milo chocolate and malt drink brand at the Bugalagrande plant in Valle del Cauca.

It involves an investment of more than $13 million and will increase export capacity by about 15 percent.

The Bugalagrande plant was founded in 1944 and is the company’s first in the country.

Petro said the Nestle commitment demonstrated confidence in Colombia, “in its future, undoubtedly, because these investments are not short-lived.”

Nestlé said the investment strategy over the next three years had only one meaning: “We believe in Colombia and its development potential.”

It said the planned investment would allow the company to strengthen its product portfolio and “align itself with some of the government’s priority points in terms of youth employability, promotion of human rights, and construction of peaceful communities.” EFE


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