Nestle India Ltd. will set up a new Maggi plant in Sanand near Ahmedabad, Gujarat, at an investment of Rs 700 crore spread over two years, the maker of the popular instant noodles said on Friday.
The Maggi plant in Sanand would be Nestle India's ninth in the country. It will generate employment for around 400 people, the FMCG firm said.
"In line with our commitment to 'Make in India', we will soon commence construction of our newest, and ninth factory in India, at Sanand, Gujarat," said Suresh Narayanan, chairman and managing director of Nestle India. This plant would be a "significant step" in enhancing Nestle's manufacturing footprint in India, he added.
The company said half of the employees at its Sanand plant would be women. Nestle India had set up its first plant at Moga in Punjab in 1961.
The company has other units in Choladi (Tamil Nadu), Nanjangud (Karnataka), Samalkha (Haryana), Ponda and Bicholim (Goa) and Pantnagar (Uttarakhand). In 2012, the company set up its eighth manufacturing facility at Tahliwal (Himachal Pradesh).
On Friday, Nestle India shares fell 1.01 percent to Rs 11,427.85 apiece on the BSE while the benchmark Sensex gained 0.27 percent to 37,118.22 points.
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