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Nestlé is investing 40 million Swiss francs or $42.88 million in opening a new production plant in the western part of Ukraine. The Nescafe coffee maker revealed this plan earlier this week.
With this move, Nestlé has become one of the few major global companies to invest in the war-torn country. It can be recalled that Russia attacked Ukraine in February with the intention of invasion, and the fighting is still going on up to now.
According to Reuters, the invasion crashed Ukraine’s economy and based on estimates and predictions of the International Monetary Fund predicted, it will further drop by 35% this year.
This is because the country is even gripped by power blackouts for weeks and this has spread throughout the country. It happened as the Russian forces continued to step up their attacks on Ukrainian power facilities.
Although the Swiss food manufacturer already employs around 5,800 employees in Ukraine, it announced its plans to hire an additional 1,500 staff for its new production facility, which will be launched in Smolyhiv in the Volyn territory.
This new production facility is opening with the aim of helping bolster the company’s production of seasonings, sauces, soup, and instant food. This will be supplied to the local as well as European markets.
"This is an important move for Nestlé, taken in a very challenging time for the country," the publication quoted Nestle’s south eastern Europe market’s chief executive officer, Alessandro Zanelli, as saying in a statement. "We aim to create a food and culinary hub, ensuring incremental jobs and serving the needs of Ukrainians and all European citizens with high-quality products."
Deccan Herald reported that before the war broke out in Ukraine, Nestlé has already been operating three plants there. Aside from increasing the brand’s capacity for noodles culinary production in the country, the other goal for the investment in a new plant is to help support the recovery and growth of Ukraine’s economy.
"I am proud to confirm our commitment to invest in Ukraine," CEO Zanelli added. "This is an important move for Nestle, taken in a very challenging time for the country."
