Nestle leaders and Dong Nai Province officials cut the ribbon to inaugurate the plant.--VNS photo

HANOI (Biz Hub) -- Nestle inaugurated a new US$37-million plant to produce its ready-to-drink product Milo in the southern Dong Nai province on October 9.

"This investment confirms Nestlé's confidence in and commitment to Viet Nam, despite the current tough economic climate," said Wayne England, Chairman and CEO of the Nestlé Indochina Region.

He pointed out that the new facility was part of Nestlé's strategy to further strengthen its presence in the growing nutritional beverage sector and reinforce its leading position as a nutrition, health and wellness company in general. The new plant aims to meet the growing consumer demand for Milo in Viet Nam, England added.

According to Nestle, the Dong Nai plant would double the company's capacity to produce its malted beverage, Milo.

To date, Nestle has invested $450 million in five factories, having 2,000 employees, in Viet Nam.--VNS