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Capitalism

May 20, 2020 - Reuters

Nestle to build new plant-based food facility in China under $100 million investment plan

Nestle to build new plant-based food facility in China under $100 million investment plan
Nestle Headquarters, SwitzerlandCredit: Sputniktilt (CC BY-SA 4.0)

Food giant Nestle (NESN.S) said on Wednesday it would spend 100 million swiss francs ($103.58 million) on expanding its manufacturing footprint in China to include a new plant-based food facility and widen its production lines.

The company said its first plant-based food facility for Asia would be built in Tianjin Economic-Technological Development Area (TEDA) and that it could launch faux meat products by the end of this year.

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