Nestlé will build a Vologda-based integrated factory to manufacture powdered infant formula from Russian raw materials, with the project investment to amount to RUB 3.5 billion. AOI for the new investment project has been signed today, September 17, between Nestlé Russia and the government of the Vologda region.
The Nestle Company will build in Vologda a new baby formula production plant. “We plan to invest 1.8 billion rubles in the development and production of baby formulas, to satisfy the demand both inside the country and in the CIS,” as stated by Martial Rolland, the Nestle’s Head in the Russia-Eurasia region. He recalled that there is already a Nestle’s plant in Vologda, and after expanding the production, taking into account the new plant construction, the Company will become one of the largest baby formula manufacturer in Europe.
Poland’s Barlinek is planning to invest more than RUB 7 billion in the construction of a flooring-making factory in the Vologda Region, Governor Oleg Kuvshinnikov told RIA Novosti on the sidelines of the international investment forum in Sochi.
The Neva Milk Group of Companies intends to establish a joint venture with the Uruguay Conaprole for construction of a dairy farm in the territory of the Vologda Region. The Uruguay company is expected to ne the major shareholder with 75%, while Neva Milk will have a blocking share holding. The project is expected to be implemented by 2020, the investments are estimated to be RUB 1.2-1.5 bln.
Today, Cherepovets has formally inaugurated a new JV of Severstal and Rütgers Group of Belgium worth USD 60 mm.
Nestle is looking to double the output of instant baby cereals in the Vologda Region, Governor Oleg Kuvshinnikov told TASS today.