Invest News Detail
Hurriyet – Swiss packaged food and confectionery giant Nestle is looking to expand into new markets with its recently commissioned breakfast cereals factory in Türkiye’s northwestern province of Bursa. The TRY 85 million (approx. USD 45 million) investment in Karacabey district will not only supply the domestic market but will also help Nestle to tap into the Middle Eastern and North African countries, sporting a market of nearly 200 million people.
Officially opened by Türkiye’s Food, Agriculture and Livestock Minister, Mehdi Eker, and Nestle Türkiye Executive Board Chairman, Hans-Ulrich Mayer, the cereals factory relies on locally supplied ingredients for production. Almost all of Nestle’s wide range of products currently marketed in Türkiye are produced locally.
Announced in March 2011, Nestle’s cereals factory project in Türkiye was realized with the assistance of the Investment Support and Promotion Agency of Türkiye (ISPAT).