BRAZIL: Nestle cracks on with coffee plant project
Nestle is looking to invest in a new instant coffee plant in Brazil. A spokeswoman for the company confirmed to Dow Jones yesterday that the company intends to invest BRL100 m (US$32.2 m) in the plant in the state of Espirito Santo.
The factory is expected to have an annual production capacity of 25,000 tons, with the soluble coffee produced there bound for Russia and Ukraine primarily, the company said. The proximity of the plant to the Vitoria port will make exports easier and cheaper, Ivan Zurita, the president of Nestle's Brazil unit told the news agency.
Nestle announced the project last September but suspended it while it battled with the country's anti-trust agency over its purchase of local chocolate unit Garoto.
The Swiss company already produces instant coffee at a factory in Araras, in the state of Rio de Janeiro, Dow Jones noted.
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