Nestle India is likely to expand and modernize its existing unit at Moga at a cost of Rs 500 crore.
The Chairman and Managing Director of Nestle India Limited Antonio Helio Waszyk after a meeting with Punjab’s Chief Minister Parkash Singh Badal said that Nestle had already invested nearly Rs 250 crore and the balance amount of Rs 250 crore will be invested for technological up-gradation, expansion and modernization of its Moga based plant over a period of next two years.
Waszyk by announcing to invest at Moga had silenced the recent rumors about the winding up of Nestle operations at Moga that was started in 1961 and termed its it as ‘Jewel in Crown’ of their investments across the globe. “It is a plant in Punjab run by Punjabis, which is evident from the fact that out of total work force of 25,000 employees, 90 percent are Punjabis,” Waszyk said, adding that Nestle purchases raw material worth Rs. 650-700 crore from Punjab annually.
He further stated that the company procures milk from as many as 1,10,000 dairy farmers across the state presently that reflects Nestle’s affinity with Punjabi farmers.
”Nestle was fortunate to launch its operation from Moga which proved to be a gateway for their entry in India at eight different locations,” added Waszyk.
He also agreed in principle t upgrade 3-4 existing private dairy farms to demonstrate the modern dairy practices, which would prove to be a beacon for the young dairy entrepreneurs to adopt dairy as an allied farming so as to achieve the target to double the milk production in the state on one hand and to give impetus to the diversification of agriculture on the other.
Meanwhile, Badal assured the Nestle team that the Punjab Government would extend all possible cooperation and support to fructify their investment plans in the near future and reiterated state government’s commitment for the welfare of farming community at all costs besides promoting dairy farming in a big way to boost crop diversification program in the state.